NeoGames S.A. (NASDAQ:NGMS) Short Interest Up 190.3% in March

NeoGames S.A. (NASDAQ:NGMSGet Rating) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 464,800 shares, an increase of 190.3% from the March 15th total of 160,100 shares. Currently, 4.8% of the shares of the stock are sold short. Based on an average trading volume of 255,800 shares, the days-to-cover ratio is currently 1.8 days.

Hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new stake in NeoGames in the third quarter worth about $25,000. Royal Bank of Canada grew its position in shares of NeoGames by 52.3% during the 3rd quarter. Royal Bank of Canada now owns 780 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the period. Legal & General Group Plc grew its position in shares of NeoGames by 39.3% during the 4th quarter. Legal & General Group Plc now owns 1,629 shares of the company’s stock worth $45,000 after buying an additional 460 shares during the period. Macquarie Group Ltd. acquired a new position in shares of NeoGames during the 3rd quarter worth about $71,000. Finally, Citigroup Inc. grew its position in shares of NeoGames by 48.0% during the 4th quarter. Citigroup Inc. now owns 5,712 shares of the company’s stock worth $159,000 after buying an additional 1,853 shares during the period. Hedge funds and other institutional investors own 54.28% of the company’s stock.

NGMS has been the subject of a number of analyst reports. Truist Financial cut their price objective on NeoGames from $33.00 to $30.00 in a report on Friday, March 11th. Jefferies Financial Group initiated coverage on NeoGames in a report on Thursday, March 31st. They set a “buy” rating and a $20.00 price objective for the company. Finally, Zacks Investment Research cut NeoGames from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 15th.

NeoGames stock opened at $14.53 on Thursday. The stock has a 50-day simple moving average of $17.96 and a 200 day simple moving average of $27.26. The company has a quick ratio of 2.42, a current ratio of 2.17 and a debt-to-equity ratio of 0.22. NeoGames has a 12-month low of $11.59 and a 12-month high of $73.54. The stock has a market capitalization of $319.60 million, a price-to-earnings ratio of 85.47 and a beta of 2.38.

NeoGames (NASDAQ:NGMSGet Rating) last released its quarterly earnings results on Wednesday, March 9th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.09). NeoGames had a net margin of 9.22% and a return on equity of 14.50%. The business had revenue of $12.25 million during the quarter, compared to the consensus estimate of $11.85 million. As a group, sell-side analysts anticipate that NeoGames will post 0.47 EPS for the current year.

About NeoGames (Get Rating)

NeoGames SA provides a suite of iLottery technology solutions worldwide. The company offers various technology platforms, a range of value-added services, and a game studio that provides a portfolio of draw based games and instant tickets through personal computers, smartphones, and handheld devices.

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