Lottery.com Inc. (NASDAQ:SEGG) Sees Significant Decrease in Short Interest

Lottery.com Inc. (NASDAQ:SEGG) was the target of a significant decline in short interest in February. As of February 27th, there was short interest totaling 797,026 shares, a decline of 23.9% from the February 12th total of 1,046,911 shares. Based on an average daily volume of 1,195,836 shares, the days-to-cover ratio is currently 0.7 days. Approximately 8.0% of the shares of the stock are sold short. Approximately 8.0% of the shares of the stock are sold short. Based on an average daily volume of 1,195,836 shares, the days-to-cover ratio is currently 0.7 days.

Lottery.com Stock Performance

Shares of NASDAQ:SEGG remained flat at $1.02 during trading on Friday. The company had a trading volume of 252,122 shares, compared to its average volume of 955,100. The firm has a 50-day moving average of $1.19 and a 200-day moving average of $2.56. The firm has a market capitalization of $12.89 million, a P/E ratio of -0.26 and a beta of 1.46. Lottery.com has a 12-month low of $0.46 and a 12-month high of $26.45.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Lottery.com in a research note on Friday, January 9th. Wall Street Zen cut shares of Lottery.com from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.00.

Institutional Investors Weigh In On Lottery.com

A hedge fund recently bought a new stake in Lottery.com stock. DRW Securities LLC bought a new position in Lottery.com Inc. (NASDAQ:SEGG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 58,609 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned approximately 0.64% of Lottery.com as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 7.72% of the company’s stock.

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.