GAN (NASDAQ:GAN) Stock Price Down 0.5% – Here’s What Happened

GAN Limited (NASDAQ:GAN) dropped 0.5% during trading on Monday . The company traded as low as $1.81 and last traded at $1.82. Approximately 321,749 shares traded hands during trading, an increase of 87% from the average daily volume of 171,604 shares. The stock had previously closed at $1.83.

GAN Stock Performance

The stock’s 50 day moving average is $1.80 and its 200 day moving average is $1.64. The company has a market capitalization of $82.94 million, a PE ratio of -6.07 and a beta of 2.01.

GAN (NASDAQ:GAN) last posted its earnings results on Friday, November 8th. The company reported $0.04 earnings per share for the quarter. The company had revenue of $37.10 million for the quarter.

Hedge Funds Weigh In On GAN

Institutional investors have recently made changes to their positions in the stock. Clear Harbor Asset Management LLC lifted its position in GAN by 17.2% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 77,099 shares of the company’s stock worth $114,000 after buying an additional 11,299 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of GAN in the 2nd quarter worth approximately $479,000. Geode Capital Management LLC lifted its holdings in shares of GAN by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 436,926 shares of the company’s stock worth $774,000 after acquiring an additional 9,260 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of GAN by 3.0% in the 2nd quarter. Renaissance Technologies LLC now owns 777,817 shares of the company’s stock valued at $1,147,000 after purchasing an additional 22,700 shares in the last quarter. Institutional investors own 16.67% of the company’s stock.

About GAN

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. It operates through two segments: B2B and B2C. The company provides and licenses GameSTACK, an internet gaming platform that provides turnkey technology solution for regulated real-money internet gambling, online sports betting, and virtual simulated gaming.