Bragg Gaming Group (NASDAQ:BRAG) Shares Down 4.7% – Here’s What Happened

Shares of Bragg Gaming Group Inc. (NASDAQ:BRAG) fell 4.7% on Thursday. The company traded as low as $0.9726 and last traded at $1.02. 42,256 shares changed hands during trading, an increase of 394% from the average session volume of 8,547 shares. The stock had previously closed at $1.07.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Bragg Gaming Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.00.

Bragg Gaming Group Trading Down 6.9%

The business’s fifty day simple moving average is $1.28 and its 200 day simple moving average is $1.68. The stock has a market cap of $28.95 million, a P/E ratio of -2.64 and a beta of 0.77.

Bragg Gaming Group (NASDAQ:BRAG) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). Bragg Gaming Group had a negative return on equity of 12.70% and a negative net margin of 7.48%. The business had revenue of $26.16 million for the quarter, compared to the consensus estimate of $26.72 million. On average, analysts predict that Bragg Gaming Group Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Bragg Gaming Group stock. Royal Bank of Canada boosted its stake in Bragg Gaming Group Inc. (NASDAQ:BRAG) by 15.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 57,864 shares of the company’s stock after buying an additional 7,527 shares during the period. Royal Bank of Canada owned approximately 0.23% of Bragg Gaming Group worth $100,000 as of its most recent filing with the SEC. Institutional investors own 4.04% of the company’s stock.

About Bragg Gaming Group

Bragg Gaming Group Inc is a business-to-business technology and content provider for the regulated online gaming industry. The company supplies iGaming operators with software, casino games, player-account management technology, sportsbook solutions and related services designed to support online casino and sports betting operations.

Bragg’s offerings include its proprietary online gaming platform, which can provide player management, payments, compliance tools, customer engagement features and operator back-office functionality.