GAN Limited (NASDAQ:GAN) Short Interest Update

GAN Limited (NASDAQ:GAN) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 551,000 shares, an increase of 9.7% from the May 15th total of 502,200 shares. Based on an average trading volume of 154,600 shares, the days-to-cover ratio is presently 3.6 days.

Hedge Funds Weigh In On GAN

A number of hedge funds have recently added to or reduced their stakes in the company. Cannon Global Investment Management LLC increased its position in GAN by 31.6% during the first quarter. Cannon Global Investment Management LLC now owns 62,500 shares of the company’s stock worth $79,000 after acquiring an additional 15,000 shares during the period. PenderFund Capital Management Ltd. bought a new position in GAN in the 4th quarter valued at $482,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in GAN in the 4th quarter worth approximately $1,525,000. Gabelli Funds LLC lifted its holdings in GAN by 5,788.6% in the fourth quarter. Gabelli Funds LLC now owns 989,282 shares of the company’s stock valued at $1,563,000 after buying an additional 972,482 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of GAN by 751.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 17,996 shares of the company’s stock valued at $28,000 after acquiring an additional 15,882 shares during the period. Institutional investors and hedge funds own 16.67% of the company’s stock.

GAN Price Performance

Shares of NASDAQ:GAN opened at $1.41 on Wednesday. The firm’s 50 day moving average is $1.32 and its two-hundred day moving average is $1.43. The firm has a market capitalization of $64.00 million, a P/E ratio of -1.57 and a beta of 2.00. GAN has a 52 week low of $0.83 and a 52 week high of $2.07. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 20.32.

GAN (NASDAQ:GAN) last released its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $30.65 million during the quarter. GAN had a negative return on equity of 323.71% and a negative net margin of 32.10%.

GAN Company Profile

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.