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

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

GAN Price Performance

GAN stock remained flat at $1.78 on Friday. 123,202 shares of the company traded hands, compared to its average volume of 176,055. The firm has a market cap of $81.52 million, a PE ratio of -5.93 and a beta of 1.96. The company has a fifty day simple moving average of $1.80 and a two-hundred day simple moving average of $1.81. GAN has a 1 year low of $1.17 and a 1 year high of $1.90.

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

Hedge Funds Weigh In On GAN

Several hedge funds and other institutional investors have recently modified their holdings of the company. CSS LLC IL acquired a new stake in GAN during the 4th quarter worth approximately $439,000. Black Maple Capital Management LP acquired a new stake in shares of GAN in the fourth quarter worth $1,034,000. Jane Street Group LLC purchased a new position in shares of GAN in the 4th quarter valued at $55,000. Credit Industriel ET Commercial purchased a new position in shares of GAN in the 4th quarter valued at $1,009,000. Finally, Cigogne Management SA acquired a new position in shares of GAN during the 4th quarter valued at $2,358,000. 16.67% of the stock is owned by institutional investors and hedge funds.

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.