Snail, Inc. (NASDAQ:SNAL) Sees Significant Increase in Short Interest

Snail, Inc. (NASDAQ:SNAL) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 6,578,476 shares, a growth of 331.8% from the April 30th total of 1,523,391 shares. Currently, 55.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 32,704,524 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Snail

A number of hedge funds have recently modified their holdings of SNAL. Susquehanna International Group LLP increased its stake in shares of Snail by 63.3% in the third quarter. Susquehanna International Group LLP now owns 29,929 shares of the company’s stock worth $33,000 after acquiring an additional 11,601 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Snail in the second quarter worth $59,000. Magnus Financial Group LLC acquired a new position in shares of Snail in the fourth quarter worth $99,000. Finally, Connective Capital Management LLC bought a new stake in Snail in the third quarter worth $158,000. 0.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Zacks Research upgraded Snail from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Noble Financial reiterated an “outperform” rating on shares of Snail in a research report on Tuesday, April 14th. Wall Street Zen upgraded Snail to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings upgraded Snail from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Snail Stock Down 0.4%

Shares of NASDAQ:SNAL opened at $0.90 on Friday. The company’s fifty day moving average is $0.71 and its two-hundred day moving average is $0.76. Snail has a 12-month low of $0.34 and a 12-month high of $2.16. The company has a market cap of $34.17 million, a P/E ratio of -1.46 and a beta of 1.11.

Snail (NASDAQ:SNAL) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.27. Snail had a negative net margin of 11.73% and a negative return on equity of 15.49%. The business had revenue of $26.90 million for the quarter, compared to the consensus estimate of $18.00 million. Equities research analysts anticipate that Snail will post 0.14 earnings per share for the current year.

About Snail

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.