Bragg Gaming Group (NASDAQ:BRAG) Stock Price Down 1.7% – What’s Next?

Shares of Bragg Gaming Group Inc. (NASDAQ:BRAG) fell 1.7% during mid-day trading on Tuesday . The company traded as low as $1.72 and last traded at $1.72. Approximately 754 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 39,132 shares. The stock had previously closed at $1.75.

Analyst Ratings Changes

BRAG has been the topic of a number of recent research reports. Zacks Research raised Bragg Gaming Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 29th. Weiss Ratings raised Bragg Gaming Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Finally, Maxim Group lowered their price objective on shares of Bragg Gaming Group to $6.00 and set a “buy” rating for the company in a research report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.33.

Bragg Gaming Group Stock Up 1.7%

The company has a market cap of $43.82 million, a P/E ratio of -5.64 and a beta of 0.93. The firm has a 50 day moving average of $1.81 and a 200-day moving average of $1.91.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BRAG. Jane Street Group LLC grew its holdings in Bragg Gaming Group by 43.6% in the fourth quarter. Jane Street Group LLC now owns 20,009 shares of the company’s stock worth $42,000 after purchasing an additional 6,072 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Bragg Gaming Group by 15.0% in the first quarter. Royal Bank of Canada now owns 57,864 shares of the company’s stock worth $100,000 after acquiring an additional 7,527 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 buying an additional 20,633 shares during the period. Hedge funds and other institutional investors own 4.04% of the company’s stock.

Bragg Gaming Group Company Profile

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.