Bragg Gaming Group Inc. (NASDAQ:BRAG) Receives $5.00 Average Price Target from Analysts

Shares of Bragg Gaming Group Inc. (NASDAQ:BRAG) have earned a consensus recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $5.3333.

BRAG has been the topic of a number of research analyst reports. Weiss Ratings upgraded Bragg Gaming Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Zacks Research upgraded Bragg Gaming Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 29th. Finally, Maxim Group cut their target price on Bragg Gaming Group to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, June 9th.

Bragg Gaming Group Stock Performance

BRAG opened at $1.64 on Tuesday. The business’s 50-day simple moving average is $1.84 and its 200-day simple moving average is $1.95. Bragg Gaming Group has a one year low of $1.42 and a one year high of $4.78. The stock has a market capitalization of $41.07 million, a P/E ratio of -5.29 and a beta of 0.92.

Bragg Gaming Group (NASDAQ:BRAG) last posted its earnings results on Thursday, May 14th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Bragg Gaming Group had a negative return on equity of 10.65% and a negative net margin of 6.27%.The business had revenue of $29.64 million for the quarter, compared to analysts’ expectations of $29.00 million. On average, equities research analysts forecast that Bragg Gaming Group will post -0.02 EPS for the current fiscal year.

Institutional Trading of Bragg Gaming Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in Bragg Gaming Group by 40.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 72,263 shares of the company’s stock valued at $297,000 after acquiring an additional 20,633 shares during the period. Royal Bank of Canada increased its position in Bragg Gaming Group by 15.0% in the 1st quarter. Royal Bank of Canada now owns 57,864 shares of the company’s stock valued at $100,000 after acquiring an additional 7,527 shares during the period. Finally, Jane Street Group LLC increased its position in Bragg Gaming Group by 43.6% in the 4th quarter. Jane Street Group LLC now owns 20,009 shares of the company’s stock valued at $42,000 after acquiring an additional 6,072 shares during the period. Institutional investors and hedge funds own 4.04% of the company’s stock.

About Bragg Gaming Group

Bragg Gaming Group is a business-to-business supplier of online gaming content, technology and platform solutions. The company develops and distributes a mix of proprietary, third-party and licensed casino games, including video slots, table games and live dealer experiences. Its core offering centers on a scalable gaming platform designed to support operator integration, player management and advanced analytics.

Bragg’s technology stack features its flagship ORYX Gaming platform, which provides a centralized hub for game aggregation, platform services and regulatory compliance tools.