Lottery.com Inc. (NASDAQ:SEGG) Short Interest Update

Lottery.com Inc. (NASDAQ:SEGG) saw a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 131,625 shares, a decline of 88.4% from the July 30th total of 1,139,511 shares. Based on an average trading volume of 145,397 shares, the short-interest ratio is currently 0.9 days. Approximately 5.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Lottery.com

A hedge fund recently bought a new position in Lottery.com stock. DRW Securities LLC acquired a new stake in shares of Lottery.com Inc. (NASDAQ:SEGG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,609 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned 0.64% of Lottery.com at the end of the most recent reporting period. Hedge funds and other institutional investors own 7.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SEGG. Weiss Ratings downgraded Lottery.com from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. Wall Street Zen cut shares of Lottery.com from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Lottery.com presently has an average rating of “Hold” and an average price target of $140.00.

Lottery.com Stock Down 0.7%

SEGG traded down $0.02 during midday trading on Thursday, reaching $2.73. The company had a trading volume of 31,510 shares, compared to its average volume of 789,997. The business has a 50-day moving average of $4.45 and a two-hundred day moving average of $6.72. Lottery.com has a 1 year low of $2.25 and a 1 year high of $49.00. The company has a market cap of $8.90 million, a P/E ratio of -0.10 and a beta of 2.50.

About Lottery.com

Lottery.com (NASDAQ: SEGG) operates a digital platform designed to streamline lottery participation by enabling users to purchase entries into state-regulated lotteries via mobile devices or the web. The company’s flagship mobile application and website serve as a gateway for consumers to participate in Powerball®, Mega Millions® and a range of other national and regional lottery drawings. Through partnerships with lottery providers, Lottery.com handles ticket procurement, secure storage and digital delivery of scanned tickets, offering a convenient alternative to traditional retail purchase.

Founded in 2016 and headquartered in Addison, Texas, Lottery.com has expanded its footprint beyond the United States, exploring opportunities in international markets such as Mexico and select European jurisdictions.