Lottery.com Inc. (NASDAQ:SEGG) Sees Large Drop in Short Interest

Lottery.com Inc. (NASDAQ:SEGG) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 85,878 shares, a decline of 34.8% from the August 15th total of 131,625 shares. Currently, 3.3% of the company’s shares are short sold. Based on an average daily trading volume, of 52,059 shares, the short-interest ratio is currently 1.6 days.

Analysts Set New Price Targets

A number of analysts have weighed in on SEGG shares. 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 downgraded 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 Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Lottery.com Stock Up 5.8%

NASDAQ:SEGG traded up $0.17 during trading hours on Friday, reaching $3.21. The company had a trading volume of 57,844 shares, compared to its average volume of 727,907. Lottery.com has a twelve month low of $2.25 and a twelve month high of $39.62. The firm has a market cap of $10.48 million, a price-to-earnings ratio of -0.12 and a beta of 2.46. The business’s 50-day simple moving average is $3.40 and its two-hundred day simple moving average is $6.13.

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.