Short Interest in GAN Limited (NASDAQ:GAN) Drops By 54.0%

GAN Limited (NASDAQ:GAN) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 56,800 shares, a drop of 54.0% from the February 28th total of 123,600 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 232,400 shares, the short-interest ratio is currently 0.2 days.

GAN Price Performance

Shares of GAN remained flat at $1.78 during trading hours on Friday. The stock had a trading volume of 123,202 shares, compared to its average volume of 175,741. The firm has a fifty day simple moving average of $1.80 and a two-hundred day simple moving average of $1.81. The stock has a market capitalization of $81.52 million, a price-to-earnings ratio of -5.93 and a beta of 1.96. GAN has a twelve month low of $1.17 and a twelve month high of $1.90.

GAN (NASDAQ:GAN) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $31.69 million for the quarter, compared to analyst estimates of $41.11 million. During the same period last year, the business posted ($0.21) earnings per share.

Institutional Trading of GAN

A number of large investors have recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in GAN in the 4th quarter valued at $36,000. Jane Street Group LLC bought a new position in shares of GAN during the fourth quarter worth about $55,000. AssuredPartners Investment Advisors LLC acquired a new position in GAN during the 4th quarter worth approximately $62,000. Ridgewood Investments LLC acquired a new position in GAN during the 4th quarter worth approximately $95,000. Finally, Rangeley Capital LLC acquired a new stake in shares of GAN in the fourth quarter valued at approximately $182,000. Institutional investors own 16.67% of the company’s stock.

GAN Company Profile

GAN Limited operates as a business-to-business (B2B) supplier of enterprise software-as-a-service solutions to online casino gaming and sports betting applications in the United States, Europe, Latin America, and internationally. It operates through two segments: B2B and B2C. The company provides and licenses GameSTACK, an internet gaming platform that provides turnkey technology solution for regulated real-money internet gambling, online sports betting, and virtual simulated gaming.