Bragg Gaming Group (NASDAQ:BRAG) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Bragg Gaming Group (NASDAQ:BRAG) from a hold rating to a strong sell rating in a report published on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bragg Gaming Group in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Bragg Gaming Group has an average rating of “Reduce” and a consensus target price of $5.00.

Bragg Gaming Group Stock Performance

Shares of BRAG stock opened at $1.84 on Tuesday. The firm’s 50 day moving average price is $1.84 and its 200-day moving average price is $2.21. Bragg Gaming Group has a one year low of $1.46 and a one year high of $4.82. The firm has a market cap of $46.07 million, a P/E ratio of -4.97 and a beta of 0.87.

Bragg Gaming Group (NASDAQ:BRAG) last posted its quarterly earnings data on Thursday, March 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The company had revenue of $32.66 million for the quarter, compared to analysts’ expectations of $28.35 million. Bragg Gaming Group had a negative return on equity of 12.52% and a negative net margin of 7.59%. As a group, research analysts predict that Bragg Gaming Group will post -0.14 EPS for the current fiscal year.

Institutional Trading of Bragg Gaming Group

An institutional investor recently raised its position in Bragg Gaming Group stock. Goldman Sachs Group Inc. raised its holdings in shares of Bragg Gaming Group Inc. (NASDAQ:BRAG) by 40.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,263 shares of the company’s stock after buying an additional 20,633 shares during the period. Goldman Sachs Group Inc. owned about 0.29% of Bragg Gaming Group worth $297,000 at the end of the most recent reporting period. 4.04% of the stock is owned by hedge funds and other institutional investors.

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.