GAN Limited (NASDAQ:GAN) Sees Significant Growth in Short Interest

GAN Limited (NASDAQ:GAN) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 123,600 shares, an increase of 67.3% from the February 13th total of 73,900 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average trading volume of 244,600 shares, the short-interest ratio is currently 0.5 days.

GAN Stock Performance

NASDAQ GAN opened at $1.77 on Monday. GAN has a one year low of $1.17 and a one year high of $1.90. The company has a market capitalization of $80.66 million, a price-to-earnings ratio of -5.90 and a beta of 1.96. The company’s 50-day simple moving average is $1.81 and its two-hundred day simple moving average is $1.81.

GAN (NASDAQ:GAN) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $31.69 million for the quarter, compared to the consensus estimate of $41.11 million. During the same quarter last year, the firm posted ($0.21) earnings per share.

Institutional Inflows and Outflows

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

About GAN

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.