Bragg Gaming Group (NASDAQ:BRAG) Shares Down 2.3% – Here’s Why

Bragg Gaming Group Inc. (NASDAQ:BRAG)’s stock price dropped 2.3% during mid-day trading on Thursday . The stock traded as low as $1.6724 and last traded at $1.72. Approximately 38,836 shares traded hands during trading, a decline of 41% from the average daily volume of 65,964 shares. The stock had previously closed at $1.76.

Wall Street Analysts Forecast Growth

BRAG has been the subject of several analyst reports. Zacks Research raised Bragg Gaming Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 29th. Weiss Ratings raised Bragg Gaming Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $5.00.

Bragg Gaming Group Trading Down 2.3%

The firm has a 50-day moving average of $1.87 and a 200 day moving average of $1.97. The company has a market cap of $43.07 million, a P/E ratio of -5.55 and a beta of 0.92.

Bragg Gaming Group (NASDAQ:BRAG) last issued its earnings results on Thursday, May 14th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $29.64 million during the quarter, compared to the consensus estimate of $29.00 million. Bragg Gaming Group had a negative return on equity of 10.65% and a negative net margin of 6.27%. On average, equities analysts predict that Bragg Gaming Group Inc. will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Bragg Gaming Group

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC boosted its holdings in shares of Bragg Gaming Group by 43.6% during the 4th quarter. Jane Street Group LLC now owns 20,009 shares of the company’s stock worth $42,000 after buying an additional 6,072 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Bragg Gaming Group by 15.0% during the 1st quarter. Royal Bank of Canada now owns 57,864 shares of the company’s stock worth $100,000 after buying an additional 7,527 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Bragg Gaming Group by 40.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 72,263 shares of the company’s stock worth $297,000 after buying an additional 20,633 shares in the last quarter. 4.04% of the stock is currently owned by institutional investors.

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.