Galaxy Gaming (OTCMKTS:GLXZ) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Galaxy Gaming Inc. (OTCMKTS:GLXZ) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.74 and traded as low as $1.60. Galaxy Gaming shares last traded at $1.64, with a volume of 14,138 shares traded.

Galaxy Gaming Trading Down 0.9%

The stock has a market capitalization of $40.06 million, a PE ratio of 8.43 and a beta of 0.40. The firm’s fifty day moving average price is $1.66 and its two-hundred day moving average price is $1.74.

Galaxy Gaming declared that its Board of Directors has authorized a share repurchase program on Wednesday, July 22nd that permits the company to repurchase $4.00 million in shares. This repurchase authorization permits the company to buy up to 10.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

About Galaxy Gaming

Galaxy Gaming, Inc develops, licenses and distributes casino gaming products for land-based casinos and online gaming operators. Its portfolio includes proprietary table games, side bets, progressive jackpot systems and electronic gaming products designed to complement traditional casino offerings.

The company’s table-game offerings have included titles such as 21+3, High Card Flush, Split Card Poker, Texas Hold’em Bonus Poker, Lucky Ladies and Triple Attack Blackjack. Galaxy Gaming also provides gaming technology and content for regulated online markets, allowing operators to offer its branded games through digital casino platforms.

Founded in 1997 and headquartered in Las Vegas, Nevada, Galaxy Gaming has served casino operators in the United States and selected international jurisdictions, subject to applicable gaming regulations.