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

Bragg Gaming Group Inc. (NASDAQ:BRAG) saw a large increase in short interest in January. As of January 15th, there was short interest totalling 232,500 shares, an increase of 19.4% from the December 31st total of 194,800 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 68,400 shares, the short-interest ratio is presently 3.4 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRAG. Renaissance Technologies LLC grew its holdings in shares of 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. Dimensional Fund Advisors LP acquired a new position in Bragg Gaming Group during the 2nd quarter valued at about $200,000. Finally, Marshall Wace LLP bought a new stake in Bragg Gaming Group during the 2nd quarter worth approximately $77,000. Institutional investors own 4.04% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities reduced their price objective on shares of Bragg Gaming Group from $6.00 to $5.00 and set a “market outperform” rating for the company in a research report on Monday, January 6th.

Bragg Gaming Group Price Performance

Shares of BRAG stock traded down $0.04 on Friday, reaching $4.93. 75,654 shares of the company were exchanged, compared to its average volume of 71,492. The company has a 50-day moving average of $3.73 and a 200-day moving average of $4.47. The company has a market cap of $123.45 million, a price-to-earnings ratio of -20.54 and a beta of 0.73. Bragg Gaming Group has a one year low of $2.86 and a one year high 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.