Bragg Gaming Group Inc. (NASDAQ:BRAG) Sees Significant Increase in Short Interest

Bragg Gaming Group Inc. (NASDAQ:BRAG) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 155,400 shares, a growth of 57.8% from the October 31st total of 98,500 shares. Based on an average trading volume of 49,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 0.9% of the company’s stock are sold short.

Bragg Gaming Group Price Performance

Shares of NASDAQ BRAG traded down $0.06 during midday trading on Friday, reaching $3.28. The company’s stock had a trading volume of 49,837 shares, compared to its average volume of 82,750. The firm has a 50 day moving average price of $4.44 and a 200-day moving average price of $5.14. The stock has a market capitalization of $82.03 million, a P/E ratio of -13.67 and a beta of 0.93. Bragg Gaming Group has a 12-month low of $2.86 and a 12-month high of $7.00.

Analyst Ratings Changes

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

Institutional Trading of Bragg Gaming Group

A number of hedge funds have recently bought and sold shares of BRAG. Marshall Wace LLP bought a new stake in shares of Bragg Gaming Group during the 2nd quarter valued at about $77,000. Dimensional Fund Advisors LP bought a new stake in Bragg Gaming Group during the second quarter valued at approximately $200,000. Finally, Renaissance Technologies LLC increased 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 valued at $720,000 after buying an additional 36,100 shares during the last quarter. Hedge funds and other institutional investors own 4.04% of the company’s stock.

Bragg Gaming Group Company Profile

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.