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

Bragg Gaming Group Inc. (NASDAQ:BRAG) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 98,500 shares, a growth of 13.5% from the October 15th total of 86,800 shares. Based on an average daily trading volume, of 32,500 shares, the short-interest ratio is presently 3.0 days. Approximately 0.5% of the company’s shares are short sold.

Bragg Gaming Group Stock Down 1.6 %

Bragg Gaming Group stock traded down $0.05 during midday trading on Friday, hitting $3.08. 241,341 shares of the stock were exchanged, compared to its average volume of 73,006. The company has a fifty day simple moving average of $4.78 and a two-hundred day simple moving average of $5.32. The stock has a market capitalization of $77.03 million, a PE ratio of -12.83 and a beta of 0.93. Bragg Gaming Group has a 52 week low of $2.86 and a 52 week high of $7.00.

Institutional Trading of Bragg Gaming Group

Several hedge funds have recently added to or reduced their stakes in BRAG. Marshall Wace LLP acquired a new position in Bragg Gaming Group in the 2nd quarter worth $77,000. Dimensional Fund Advisors LP acquired a new position in Bragg Gaming Group during the second quarter worth approximately $200,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Bragg Gaming Group by 40.7% during the 2nd quarter. Renaissance Technologies LLC now owns 124,700 shares of the company’s stock worth $720,000 after buying an additional 36,100 shares during the period. Institutional investors and hedge funds own 4.04% of the company’s stock.

Analyst Ratings Changes

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

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.