GAN Limited (NASDAQ:GAN) Short Interest Up 49.9% in December

GAN Limited (NASDAQ:GAN) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 98,200 shares, an increase of 49.9% from the November 30th total of 65,500 shares. Based on an average daily volume of 200,800 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GAN. Oddo BHF Asset Management Sas acquired a new stake in GAN in the third quarter valued at $3,676,000. Geode Capital Management LLC grew its holdings in GAN by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 436,926 shares of the company’s stock valued at $774,000 after buying an additional 9,260 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of GAN in the second quarter worth $479,000. Finally, Renaissance Technologies LLC increased its position in GAN by 3.0% during the 2nd quarter. Renaissance Technologies LLC now owns 777,817 shares of the company’s stock worth $1,147,000 after purchasing an additional 22,700 shares in the last quarter. Institutional investors and hedge funds own 16.67% of the company’s stock.

GAN Stock Performance

GAN stock traded down $0.02 during trading on Monday, reaching $1.82. The company had a trading volume of 108,045 shares, compared to its average volume of 175,614. GAN has a twelve month low of $1.17 and a twelve month high of $1.87. The firm has a 50-day simple moving average of $1.82 and a 200-day simple moving average of $1.70. The company has a market cap of $82.71 million, a price-to-earnings ratio of -6.05 and a beta of 1.99.

GAN (NASDAQ:GAN) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.04 earnings per share for the quarter. The business had revenue of $37.10 million for the quarter.

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.