NeoGames S.A. (NASDAQ:NGMS) Short Interest Down 55.7% in September

NeoGames S.A. (NASDAQ:NGMS) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 95,100 shares, a decline of 55.7% from the September 15th total of 214,800 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average trading volume of 155,900 shares, the days-to-cover ratio is currently 0.6 days.

Shares of NGMS traded up $0.62 during mid-day trading on Thursday, reaching $38.54. 504 shares of the company’s stock were exchanged, compared to its average volume of 170,697. The business’s fifty day simple moving average is $40.64 and its 200-day simple moving average is $48.05. NeoGames has a 52-week low of $18.67 and a 52-week high of $73.54. The stock has a market capitalization of $847.73 million and a PE ratio of 97.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.40 and a quick ratio of 2.40.

NeoGames (NASDAQ:NGMS) last announced its quarterly earnings results on Wednesday, August 11th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The firm had revenue of $12.89 million during the quarter, compared to analyst estimates of $12.65 million. Equities research analysts predict that NeoGames will post 0.43 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in NGMS. New York State Common Retirement Fund bought a new position in shares of NeoGames during the 1st quarter valued at about $57,000. Public Employees Retirement Association of Colorado bought a new stake in shares of NeoGames during the second quarter valued at approximately $61,000. Acadian Asset Management LLC bought a new position in shares of NeoGames during the 1st quarter worth about $68,000. Legal & General Group Plc lifted its position in shares of NeoGames by 131.5% during the 2nd quarter. Legal & General Group Plc now owns 1,169 shares of the company’s stock worth $71,000 after buying an additional 664 shares during the period. Finally, UBS Group AG increased its holdings in NeoGames by 247.0% during the 1st quarter. UBS Group AG now owns 2,811 shares of the company’s stock valued at $101,000 after purchasing an additional 2,001 shares in the last quarter. Institutional investors and hedge funds own 25.63% of the company’s stock.

Separately, Zacks Investment Research upgraded NeoGames from a “sell” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $44.40.

About NeoGames

NeoGames SA provides a suite of iLottery technology solutions worldwide. The company offers various technology platforms, a range of value-added services, and a game studio that provides a portfolio of draw based games and instant tickets through personal computers, smartphones, and handheld devices.

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