GAN (NASDAQ:GAN) Trading 0.6% Higher – Here’s Why

Shares of GAN Limited (NASDAQ:GAN) were up 0.6% during mid-day trading on Tuesday . The company traded as high as $1.82 and last traded at $1.80. Approximately 88,340 shares were traded during trading, a decline of 47% from the average daily volume of 165,942 shares. The stock had previously closed at $1.79.

GAN Price Performance

The stock’s fifty day moving average price is $1.78 and its 200-day moving average price is $1.56. The firm has a market cap of $81.85 million, a price-to-earnings ratio of -3.46 and a beta of 2.01.

GAN (NASDAQ:GAN) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.04) EPS for the quarter. The company had revenue of $35.56 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GAN. Skandinaviska Enskilda Banken AB publ bought a new stake in GAN in the second quarter worth approximately $479,000. Renaissance Technologies LLC grew its position in GAN by 3.0% in the second quarter. Renaissance Technologies LLC now owns 777,817 shares of the company’s stock worth $1,147,000 after acquiring an additional 22,700 shares in the last quarter. Finally, Clear Harbor Asset Management LLC grew its position in GAN by 17.2% in the second quarter. Clear Harbor Asset Management LLC now owns 77,099 shares of the company’s stock worth $114,000 after acquiring an additional 11,299 shares in the last quarter. 16.67% of the stock is owned by hedge funds and other 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.