Bragg Gaming Group (NASDAQ:BRAG) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Bragg Gaming Group (NASDAQ:BRAG) from a hold rating to a strong sell rating in a research note published on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bragg Gaming Group in a report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $5.00.

Bragg Gaming Group Stock Up 8.1%

Shares of Bragg Gaming Group stock opened at $1.86 on Tuesday. The stock’s fifty day moving average is $1.84 and its two-hundred day moving average is $2.22. Bragg Gaming Group has a 52 week low of $1.46 and a 52 week high of $4.82. The company has a market capitalization of $46.57 million, a PE ratio of -5.03 and a beta of 0.86.

Bragg Gaming Group (NASDAQ:BRAG) last released its earnings results on Thursday, March 19th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $32.66 million for the quarter, compared to the consensus estimate of $28.35 million. Bragg Gaming Group had a negative return on equity of 12.52% and a negative net margin of 7.59%. As a group, research analysts anticipate that Bragg Gaming Group will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Bragg Gaming Group

A hedge fund recently raised its stake in Bragg Gaming Group stock. Goldman Sachs Group Inc. grew its position in Bragg Gaming Group Inc. (NASDAQ:BRAG) by 40.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,263 shares of the company’s stock after buying an additional 20,633 shares during the quarter. Goldman Sachs Group Inc. owned 0.29% of Bragg Gaming Group worth $297,000 at the end of the most recent reporting period. 4.04% of the stock is owned by hedge funds and other institutional investors.

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.