Short Interest in Snail, Inc. (NASDAQ:SNAL) Increases By 63,594.6%

Snail, Inc. (NASDAQ:SNAL) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totaling 6,229,328 shares, a growth of 63,594.6% from the March 31st total of 9,780 shares. Currently, 73.1% of the company’s stock are short sold. Based on an average daily volume of 90,642,213 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Snail

Hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP increased its stake in Snail by 63.3% in the third quarter. Susquehanna International Group LLP now owns 29,929 shares of the company’s stock valued at $33,000 after purchasing an additional 11,601 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in Snail in the second quarter valued at approximately $59,000. Magnus Financial Group LLC purchased a new position in Snail in the fourth quarter valued at approximately $99,000. Finally, Connective Capital Management LLC purchased a new position in Snail in the third quarter valued at approximately $158,000. 0.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SNAL. Noble Financial reissued an “outperform” rating on shares of Snail in a research report on Tuesday, April 14th. Zacks Research upgraded shares of Snail from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Snail has an average rating of “Hold”.

Snail Price Performance

Shares of SNAL stock traded down $0.06 during trading hours on Friday, reaching $0.63. 1,137,000 shares of the stock were exchanged, compared to its average volume of 12,499,439. The business’s fifty day moving average is $0.63 and its two-hundred day moving average is $0.81. Snail has a 12-month low of $0.34 and a 12-month high of $2.16. The firm has a market capitalization of $23.64 million, a P/E ratio of -0.85 and a beta of 0.82.

Snail (NASDAQ:SNAL) last released its earnings results on Thursday, March 19th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Snail had a negative net margin of 17.79% and a negative return on equity of 12.69%. The firm had revenue of $20.80 million for the quarter, compared to analyst estimates of $23.00 million. As a group, equities research analysts predict that Snail will post 0.02 earnings per share for the current fiscal year.

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.