Bragg Gaming Group (NASDAQ:BRAG) Trading Down 1.7% – Should You Sell?

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

Wall Street Analyst Weigh In

A number of brokerages have commented on BRAG. Zacks Research upgraded Bragg Gaming Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 29th. Maxim Group reduced their price target on Bragg Gaming Group to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, June 9th. Finally, Weiss Ratings downgraded shares of Bragg Gaming Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.33.

Bragg Gaming Group Trading Down 1.7%

The stock has a market cap of $43.07 million, a PE ratio of -5.55 and a beta of 0.92. The company’s 50 day moving average is $1.81 and its 200-day moving average is $1.91.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC grew its stake in Bragg Gaming Group by 43.6% during the 4th quarter. Jane Street Group LLC now owns 20,009 shares of the company’s stock valued at $42,000 after purchasing an additional 6,072 shares in the last quarter. Royal Bank of Canada raised its position in shares of 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 purchasing an additional 7,527 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position 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 purchasing an additional 20,633 shares in the last quarter. Hedge funds and other institutional investors 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.