Short Interest in GAN Limited (NASDAQ:GAN) Increases By 107.8%

GAN Limited (NASDAQ:GAN) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 125,100 shares, a growth of 107.8% from the December 31st total of 60,200 shares. Based on an average daily trading volume, of 206,700 shares, the short-interest ratio is presently 0.6 days. Approximately 0.3% of the shares of the company are short sold.

Hedge Funds Weigh In On GAN

A number of institutional investors have recently added to or reduced their stakes in GAN. Ridgewood Investments LLC bought a new position in shares of GAN in the fourth quarter worth approximately $95,000. Geode Capital Management LLC raised its holdings in GAN by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 436,926 shares of the company’s stock worth $774,000 after acquiring an additional 9,260 shares during the last quarter. Renaissance Technologies LLC lifted its position in GAN by 3.0% in the 2nd quarter. Renaissance Technologies LLC now owns 777,817 shares of the company’s stock valued at $1,147,000 after acquiring an additional 22,700 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of GAN in the third quarter worth approximately $3,676,000. Institutional investors own 16.67% of the company’s stock.

GAN Stock Performance

GAN stock traded down $0.01 during midday trading on Friday, reaching $1.89. 168,404 shares of the stock were exchanged, compared to its average volume of 179,700. The company’s fifty day moving average is $1.84 and its 200-day moving average is $1.77. GAN has a 52 week low of $1.17 and a 52 week high of $1.90. The firm has a market cap of $85.90 million, a PE ratio of -6.28 and a beta of 1.96.

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