Zacks: Brokerages Anticipate GAN Limited (NASDAQ:GAN) Will Announce Quarterly Sales of $33.71 Million

Wall Street brokerages expect GAN Limited (NASDAQ:GAN – Get Rating) to report sales of $33.71 million for the current quarter, according to Zacks. Three analysts have made estimates for GAN’s earnings. The highest sales estimate is $35.50 million and the lowest is $32.63 million. GAN posted sales of $27.84 million during the same quarter last year, which would indicate a positive year over year growth rate of 21.1%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that GAN will report full-year sales of $157.09 million for the current financial year, with estimates ranging from $155.26 million to $160.00 million. For the next financial year, analysts forecast that the company will report sales of $208.78 million, with estimates ranging from $199.35 million to $225.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow GAN.

GAN (NASDAQ:GAN – Get Rating) last posted its quarterly earnings results on Tuesday, March 22nd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.10). GAN had a negative return on equity of 9.52% and a negative net margin of 18.88%. The firm had revenue of $30.50 million for the quarter, compared to analyst estimates of $35.26 million. During the same quarter last year, the firm earned ($0.27) EPS. The company’s revenue was up 242.7% on a year-over-year basis.

GAN has been the subject of several research reports. Zacks Investment Research downgraded shares of GAN from a “hold” rating to a “sell” rating in a research report on Thursday, March 24th. Craig Hallum cut their price objective on shares of GAN from $14.00 to $8.00 in a research report on Wednesday, March 23rd. Northland Securities downgraded shares of GAN from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 23rd. Finally, B. Riley cut their price target on shares of GAN from $26.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, March 23rd.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in GAN by 2.9% during the fourth quarter. BlackRock Inc. now owns 2,807,568 shares of the company’s stock worth $25,801,000 after buying an additional 78,986 shares during the last quarter. Wellington Management Group LLP boosted its holdings in GAN by 36.6% during the third quarter. Wellington Management Group LLP now owns 2,010,591 shares of the company’s stock worth $29,898,000 after buying an additional 539,016 shares during the last quarter. State Street Corp boosted its holdings in GAN by 58.3% during the fourth quarter. State Street Corp now owns 1,160,821 shares of the company’s stock worth $10,668,000 after buying an additional 427,615 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in GAN by 38.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 893,991 shares of the company’s stock worth $8,216,000 after buying an additional 248,751 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in GAN by 62.2% during the third quarter. Geode Capital Management LLC now owns 741,072 shares of the company’s stock worth $11,019,000 after buying an additional 284,252 shares during the last quarter. Hedge funds and other institutional investors own 47.61% of the company’s stock.

Shares of GAN stock traded up $0.14 during trading hours on Friday, hitting $4.67. The company had a trading volume of 415,538 shares, compared to its average volume of 595,195. The company’s 50-day moving average is $5.64 and its two-hundred day moving average is $9.22. GAN has a twelve month low of $4.25 and a twelve month high of $20.66. The company has a market cap of $197.04 million, a P/E ratio of -8.19 and a beta of 1.34.

About GAN (Get Rating)

GAN Limited operates as a business-to-business supplier of internet gambling software-as-a-service solutions to online casino gaming and online sports betting applications in the United States, Italy, the United Kingdom and Channel Islands, and internationally. The company operates through Real Money iGaming (RMiG) and Simulated Gaming (SIM) segments.

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