GAN Limited (NASDAQ:GAN) Short Interest Up 12.0% in October

GAN Limited (NASDAQ:GAN) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 733,300 shares, a growth of 12.0% from the October 15th total of 655,000 shares. Based on an average trading volume of 585,300 shares, the short-interest ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

Separately, Macquarie lowered shares of GAN from an “outperform” rating to a “neutral” rating in a research report on Thursday, November 9th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GAN. Integrated Wealth Concepts LLC bought a new stake in shares of GAN during the third quarter worth $46,000. Ingalls & Snyder LLC grew its position in GAN by 510.0% during the 3rd quarter. Ingalls & Snyder LLC now owns 66,180 shares of the company’s stock worth $77,000 after acquiring an additional 55,330 shares during the last quarter. XTX Topco Ltd acquired a new position in GAN in the 2nd quarter worth about $38,000. Corsair Capital Management L.P. acquired a new position in GAN in the 2nd quarter worth about $49,000. Finally, Cerity Partners LLC bought a new position in GAN in the second quarter valued at about $78,000. Institutional investors and hedge funds own 13.42% of the company’s stock.

GAN Price Performance

Shares of GAN stock traded up $0.13 during trading on Friday, reaching $1.57. 1,882,695 shares of the company’s stock were exchanged, compared to its average volume of 408,347. The firm’s 50-day moving average price is $1.17 and its 200 day moving average price is $1.42. The company has a market cap of $70.19 million, a P/E ratio of -0.39 and a beta of 1.60. The company has a debt-to-equity ratio of 20.32, a quick ratio of 1.72 and a current ratio of 1.72. GAN has a 1-year low of $0.83 and a 1-year high of $2.49.

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. The company operates in two segments, B2B and Business-to-Consumer (B2C).