Bragg Gaming Group Inc. (NASDAQ:BRAG) Sees Large Growth in Short Interest

Bragg Gaming Group Inc. (NASDAQ:BRAG) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 98,500 shares, an increase of 13.5% from the October 15th total of 86,800 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 32,500 shares, the days-to-cover ratio is currently 3.0 days.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a “market outperform” rating and issued a $7.00 price objective on shares of Bragg Gaming Group in a research report on Monday, October 14th.

Bragg Gaming Group Stock Performance

BRAG traded up $0.19 during midday trading on Monday, reaching $3.27. 27,696 shares of the company were exchanged, compared to its average volume of 47,513. The stock has a market capitalization of $81.78 million, a P/E ratio of -12.83 and a beta of 0.93. Bragg Gaming Group has a one year low of $2.86 and a one year high of $7.00. The stock’s 50-day simple moving average is $4.78 and its 200 day simple moving average is $5.32.

Institutional Investors Weigh In On Bragg Gaming Group

Several hedge funds have recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in shares of Bragg Gaming Group in the 2nd quarter valued at $77,000. Dimensional Fund Advisors LP bought a new position in shares of Bragg Gaming Group during the 2nd quarter worth approximately $200,000. Finally, Renaissance Technologies LLC boosted its holdings in Bragg Gaming Group by 40.7% during the second quarter. Renaissance Technologies LLC now owns 124,700 shares of the company’s stock worth $720,000 after purchasing an additional 36,100 shares during the last quarter. 4.04% of the stock is currently owned by institutional investors and hedge funds.

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.