Short Interest in Lottery.com Inc. (NASDAQ:SEGG) Increases By 148.0%

Lottery.com Inc. (NASDAQ:SEGG) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 1,143,416 shares, an increase of 148.0% from the March 31st total of 461,035 shares. Based on an average daily volume of 2,257,167 shares, the days-to-cover ratio is currently 0.5 days. Currently, 11.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lottery.com in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Lottery.com presently has a consensus rating of “Hold” and an average price target of $20.00.

Lottery.com Price Performance

Shares of NASDAQ:SEGG opened at $0.66 on Monday. The company’s fifty day moving average is $0.83 and its two-hundred day moving average is $1.55. Lottery.com has a 12-month low of $0.46 and a 12-month high of $26.45. The company has a market cap of $8.28 million, a P/E ratio of -0.17 and a beta of 1.64.

Hedge Funds Weigh In On Lottery.com

An institutional investor recently bought a new position in Lottery.com stock. DRW Securities LLC purchased a new position in Lottery.com Inc. (NASDAQ:SEGG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 58,609 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned about 0.64% of Lottery.com at the end of the most recent quarter. 7.72% of the stock is currently owned by institutional investors.

Lottery.com Company Profile

Lottery.com (NASDAQ: SEGG) operates a digital platform designed to streamline lottery participation by enabling users to purchase entries into state-regulated lotteries via mobile devices or the web. The company’s flagship mobile application and website serve as a gateway for consumers to participate in Powerball®, Mega Millions® and a range of other national and regional lottery drawings. Through partnerships with lottery providers, Lottery.com handles ticket procurement, secure storage and digital delivery of scanned tickets, offering a convenient alternative to traditional retail purchase.

Founded in 2016 and headquartered in Addison, Texas, Lottery.com has expanded its footprint beyond the United States, exploring opportunities in international markets such as Mexico and select European jurisdictions.