Short Interest in Snail, Inc. (NASDAQ:SNAL) Drops By 45.6%

Snail, Inc. (NASDAQ:SNAL) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 174,609 shares, a drop of 45.6% from the August 15th total of 320,725 shares. Approximately 5.9% of the shares of the company are short sold. Based on an average trading volume of 70,691 shares, the days-to-cover ratio is presently 2.5 days.

Snail Stock Up 3.2%

Shares of NASDAQ SNAL traded up $0.08 during trading on Thursday, reaching $2.59. The company had a trading volume of 36,216 shares, compared to its average volume of 1,640,117. Snail has a 12-month low of $1.70 and a 12-month high of $10.80. The stock has a market cap of $23.21 million, a PE ratio of -2.06 and a beta of 1.22. The business’s 50-day moving average is $3.71 and its 200 day moving average is $3.54.

Snail (NASDAQ:SNAL) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($1.91). The company had revenue of $21.80 million during the quarter, compared to analysts’ expectations of $29.00 million. Snail had a negative return on equity of 15.49% and a negative net margin of 8.83%. On average, analysts anticipate that Snail will post 0.48 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Snail from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Zacks Research lowered shares of Snail from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Noble Financial restated an “outperform” rating on shares of Snail in a report on Thursday, July 2nd. Finally, Weiss Ratings raised Snail from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

About Snail

Snail Inc (NASDAQ: SNAL) is a digital entertainment company focused on the development, publishing and operation of free-to-play online games for PC and mobile platforms. The company’s portfolio spans a variety of genres that include massively multiplayer online role-playing games (MMORPGs), strategy titles, and casual mobile games. Snail manages its games throughout the entire lifecycle, providing design, development, server hosting and community support services to engage players worldwide.

Founded in the early 2000s and headquartered in Xiamen, China, Snail has expanded its footprint with regional offices in North America, Europe and Southeast Asia.