GAN Limited (NASDAQ:GAN) Short Interest Down 54.0% in March

GAN Limited (NASDAQ:GAN) was the target of a large decline in short interest in 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. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 232,400 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

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

GAN Stock Performance

NASDAQ GAN remained flat at $1.78 during trading hours on Friday. The company had a trading volume of 123,202 shares, compared to its average volume of 176,055. The company has a market cap of $81.52 million, a PE ratio of -5.93 and a beta of 1.96. The business’s 50 day simple moving average is $1.80 and its two-hundred day simple moving average is $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 quarterly earnings results 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 analyst estimates of $41.11 million. During the same quarter last year, the business posted ($0.21) EPS.

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.