Bragg Gaming Group (NASDAQ:BRAG) Trading Up 2.1% – What’s Next?

Shares of Bragg Gaming Group Inc. (NASDAQ:BRAG) were up 2.1% during trading on Monday . The company traded as high as $2.10 and last traded at $1.99. Approximately 73,553 shares traded hands during mid-day trading, an increase of 159% from the average daily volume of 28,381 shares. The stock had previously closed at $1.95.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup cut shares of Bragg Gaming Group from an “outperform” rating to a “market perform” rating in a research report on Friday, October 17th. JMP Securities reaffirmed a “market perform” rating and issued a $4.00 target price on shares of Bragg Gaming Group in a research report on Friday, October 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bragg Gaming Group in a research note on Monday, December 22nd. Finally, Citizens Jmp reissued a “market perform” rating on shares of Bragg Gaming Group in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Bragg Gaming Group presently has an average rating of “Hold” and a consensus price target of $7.00.

Bragg Gaming Group Stock Up 2.1%

The firm has a 50 day moving average price of $2.24 and a two-hundred day moving average price of $3.07. The company has a market capitalization of $49.83 million, a price-to-earnings ratio of -5.85 and a beta of 0.84.

Bragg Gaming Group (NASDAQ:BRAG) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). Bragg Gaming Group had a negative net margin of 7.08% and a negative return on equity of 11.05%. The business had revenue of $31.45 million during the quarter, compared to analysts’ expectations of $26.56 million. Analysts predict that Bragg Gaming Group Inc. will post -0.14 earnings per share for the current year.

Institutional Trading of Bragg Gaming Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Militia Capital Partners LP acquired a new position in Bragg Gaming Group during the 1st quarter worth $58,000. Goldman Sachs Group Inc. lifted its position in shares of Bragg Gaming Group by 40.0% during the first quarter. Goldman Sachs Group Inc. now owns 72,263 shares of the company’s stock worth $297,000 after purchasing an additional 20,633 shares during the last quarter. Finally, Cidel Asset Management Inc. grew its stake in Bragg Gaming Group by 20.5% in the second quarter. Cidel Asset Management Inc. now owns 189,077 shares of the company’s stock worth $815,000 after purchasing an additional 32,179 shares in the last quarter. Institutional investors own 4.04% of the company’s stock.

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.