Bragg Gaming Group Inc. (NASDAQ:BRAG) Short Interest Up 29.3% in August

Bragg Gaming Group Inc. (NASDAQ:BRAG) was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totaling 196,100 shares, agrowthof29.3% from the July 31st total of 151,700 shares. Based on an average daily volume of 67,400 shares, the short-interest ratio is currently 2.9 days. Approximately1.1% of the shares of the stock are short sold. Approximately1.1% of the shares of the stock are short sold. Based on an average daily volume of 67,400 shares, the short-interest ratio is currently 2.9 days.

Bragg Gaming Group Trading Down 0.2%

Shares of NASDAQ:BRAG traded down $0.01 during midday trading on Tuesday, hitting $2.70. The company had a trading volume of 7,764 shares, compared to its average volume of 61,793. Bragg Gaming Group has a 12 month low of $2.59 and a 12 month high of $6.12. The stock has a market cap of $67.48 million, a price-to-earnings ratio of -11.23 and a beta of 0.83. The firm has a fifty day simple moving average of $3.76 and a 200 day simple moving average of $4.05.

Bragg Gaming Group (NASDAQ:BRAG) last posted its earnings results on Thursday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The business had revenue of $30.72 million during the quarter, compared to analyst estimates of $27.86 million. Bragg Gaming Group had a negative net margin of 5.04% and a negative return on equity of 7.51%. Bragg Gaming Group has set its FY 2025 guidance at EPS. Equities analysts forecast that Bragg Gaming Group will post -0.14 EPS for the current fiscal year.

Institutional Trading of Bragg Gaming Group

A number of institutional investors have recently modified their holdings of the company. Cidel Asset Management Inc. lifted its holdings in shares of Bragg Gaming Group by 20.5% in the second quarter. Cidel Asset Management Inc. now owns 189,077 shares of the company’s stock valued at $815,000 after purchasing an additional 32,179 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Bragg Gaming Group by 15.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 82,944 shares of the company’s stock valued at $307,000 after acquiring an additional 10,838 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Bragg Gaming Group by 40.0% in the first quarter. Goldman Sachs Group Inc. now owns 72,263 shares of the company’s stock valued at $297,000 after acquiring an additional 20,633 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Bragg Gaming Group in the first quarter valued at about $77,000. Finally, Millennium Management LLC acquired a new stake in shares of Bragg Gaming Group in the fourth quarter valued at about $58,000. 4.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JMP Securities dropped their price target on Bragg Gaming Group from $6.00 to $4.00 and set a “market outperform” rating for the company in a report on Friday, August 15th. Benchmark cut Bragg Gaming Group from a “buy” rating to a “hold” rating and set a $6.00 target price for the company. in a research note on Monday, August 18th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $7.00.

About Bragg Gaming Group

Bragg Gaming Group Inc provides business to business online gaming technology platform and casino content aggregator worldwide. The company offers a range of games, including slot, table, card, video bingo, scratch card, and virtual sports, as well as live dealer games. It also provides player account management platform, a multi-channel and cross-product that enables operators to manage the entire product suite using one shared account and one wallet for casino, lottery, sportsbook, and other operations; and Fuze, a single integrated platform that delivers third party gaming content.