Snail (NASDAQ:SNAL) Shares Set to Reverse Split on Monday, July 6th

Snail, Inc. (NASDAQ:SNAL) shares are set to reverse split on Monday, July 6th. The 1-5 reverse split was announced on Wednesday, July 1st. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 2nd.

Snail Stock Performance

SNAL stock opened at $0.61 on Thursday. The firm has a market cap of $26.12 million, a PE ratio of -0.99 and a beta of 1.44. The firm’s fifty day moving average is $0.75 and its 200 day moving average is $0.72. Snail has a one year low of $0.34 and a one year high of $2.16.

Snail (NASDAQ:SNAL) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.27. Snail had a negative net margin of 11.73% and a negative return on equity of 15.49%. The company had revenue of $26.90 million during the quarter, compared to analysts’ expectations of $18.00 million. Research analysts predict that Snail will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNAL. Noble Financial restated an “outperform” rating on shares of Snail in a research note on Tuesday, April 14th. Weiss Ratings upgraded Snail from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen raised Snail to a “buy” rating in a report on Saturday, May 30th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Snail has a consensus rating of “Hold”.

Hedge Funds Weigh In On Snail

Several hedge funds and other institutional investors have recently modified their holdings of SNAL. Susquehanna International Group LLP boosted its position in Snail by 63.3% during the third quarter. Susquehanna International Group LLP now owns 29,929 shares of the company’s stock worth $33,000 after acquiring an additional 11,601 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in Snail during the 2nd quarter valued at about $59,000. Magnus Financial Group LLC acquired a new stake in Snail in the 4th quarter valued at about $99,000. Finally, Connective Capital Management LLC acquired a new stake in Snail in the 3rd quarter valued at about $158,000. 0.36% of the stock is owned by hedge funds and other institutional investors.

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.