GAN Limited (NASDAQ:GAN – Get Rating) – Investment analysts at B. Riley decreased their Q1 2023 earnings per share estimates for GAN in a report issued on Tuesday, May 17th. B. Riley analyst D. Bain now forecasts that the company will earn $0.00 per share for the quarter, down from their previous estimate of $0.02. B. Riley currently has a “Buy” rating and a $10.00 target price on the stock. B. Riley also issued estimates for GAN’s Q2 2023 earnings at $0.00 EPS, Q3 2023 earnings at $0.02 EPS and FY2023 earnings at $0.09 EPS.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of GAN from a “hold” rating to a “sell” rating in a research note on Thursday, March 24th. Northland Securities downgraded shares of GAN from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 23rd. Finally, Craig Hallum dropped their price objective on shares of GAN to $6.00 and set a “na” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.00.
GAN (NASDAQ:GAN – Get Rating) last issued its earnings results on Tuesday, March 22nd. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). The company had revenue of $30.50 million during the quarter, compared to the consensus estimate of $35.26 million. GAN had a negative return on equity of 9.60% and a negative net margin of 17.56%. GAN’s revenue was up 242.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.27) earnings per share.
A number of large investors have recently bought and sold shares of the stock. Omni Partners US LLC lifted its position in GAN by 0.7% during the third quarter. Omni Partners US LLC now owns 169,827 shares of the company’s stock valued at $2,525,000 after acquiring an additional 1,105 shares during the last quarter. First Mercantile Trust Co. lifted its position in GAN by 20.7% during the third quarter. First Mercantile Trust Co. now owns 6,990 shares of the company’s stock valued at $104,000 after acquiring an additional 1,200 shares during the last quarter. Eagle Bay Advisors LLC lifted its position in GAN by 123.8% during the third quarter. Eagle Bay Advisors LLC now owns 3,460 shares of the company’s stock valued at $50,000 after acquiring an additional 1,914 shares during the last quarter. Royal Bank of Canada lifted its position in GAN by 34.9% during the second quarter. Royal Bank of Canada now owns 7,542 shares of the company’s stock valued at $124,000 after acquiring an additional 1,950 shares during the last quarter. Finally, Invesco Ltd. lifted its position in GAN by 16.5% during the third quarter. Invesco Ltd. now owns 15,420 shares of the company’s stock valued at $230,000 after acquiring an additional 2,183 shares during the last quarter. 49.54% of the stock is owned by institutional investors.
GAN Company Profile (Get Rating)
GAN Limited operates as a business-to-business (B2B) supplier of enterprise software-as-a-service solutions to online casino gaming and sports betting applications in the United States, Europe, Latin America, and internationally. The company operates in two segments, B2B and Business-to-Consumer (B2C).
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