Snail, Inc. (NASDAQ:SNAL) Short Interest Down 76.4% in May

Snail, Inc. (NASDAQ:SNAL) was the recipient of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 1,551,566 shares, a drop of 76.4% from the May 14th total of 6,578,476 shares. Based on an average daily volume of 3,371,511 shares, the days-to-cover ratio is currently 0.5 days. Approximately 13.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research upgraded Snail from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings upgraded Snail from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, May 27th. Noble Financial restated an “outperform” rating on shares of Snail in a report on Tuesday, April 14th. Finally, Wall Street Zen upgraded Snail to a “buy” rating in a report on Saturday, May 30th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

Snail Price Performance

Shares of NASDAQ SNAL opened at $0.79 on Wednesday. The stock has a market capitalization of $29.73 million, a price-to-earnings ratio of -1.27 and a beta of 1.31. The business has a 50-day moving average of $0.75 and a 200-day moving average of $0.75. Snail has a fifty-two week low of $0.34 and a fifty-two week high of $2.16.

Snail (NASDAQ:SNAL) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.27. Snail had a negative return on equity of 15.49% and a negative net margin of 11.73%.The company had revenue of $26.90 million during the quarter, compared to analysts’ expectations of $18.00 million. On average, sell-side analysts expect that Snail will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Snail

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP grew its holdings in Snail by 63.3% during the third quarter. Susquehanna International Group LLP now owns 29,929 shares of the company’s stock worth $33,000 after purchasing an additional 11,601 shares during the period. Evergreen Capital Management LLC bought a new position in Snail during the second quarter worth about $59,000. Magnus Financial Group LLC bought a new position in Snail during the fourth quarter worth about $99,000. Finally, Connective Capital Management LLC bought a new position in Snail during the third quarter worth about $158,000. Institutional investors own 0.36% of the company’s stock.

Snail Company Profile

Snail Inc (NASDAQ: SNAL) is a digital entertainment company focused on the development, publishing and operation of free-to-play online games for PC and mobile platforms. The company’s portfolio spans a variety of genres that include massively multiplayer online role-playing games (MMORPGs), strategy titles, and casual mobile games. Snail manages its games throughout the entire lifecycle, providing design, development, server hosting and community support services to engage players worldwide.

Founded in the early 2000s and headquartered in Xiamen, China, Snail has expanded its footprint with regional offices in North America, Europe and Southeast Asia.