Snail, Inc. (NASDAQ:SNAL) Short Interest Down 75.5% in April

Snail, Inc. (NASDAQ:SNAL) was the recipient of a large decline in short interest in April. As of April 30th, there was short interest totaling 1,523,391 shares, a decline of 75.5% from the April 15th total of 6,229,328 shares. Based on an average daily volume of 5,066,519 shares, the days-to-cover ratio is presently 0.3 days. Currently, 12.7% of the company’s stock are short sold.

Institutional Investors Weigh In On Snail

Hedge funds have recently added to or reduced their stakes in the stock. Magnus Financial Group LLC purchased a new stake in Snail during the 4th quarter valued at $99,000. Susquehanna International Group LLP raised its stake in Snail by 63.3% during the 3rd quarter. Susquehanna International Group LLP now owns 29,929 shares of the company’s stock valued at $33,000 after buying an additional 11,601 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in Snail during the 2nd quarter valued at $59,000. Finally, Connective Capital Management LLC purchased a new stake in Snail during the 3rd quarter valued at $158,000. 0.36% of the stock is currently owned by hedge funds and other institutional investors.

Snail Stock Performance

Shares of SNAL traded up $0.08 during mid-day trading on Friday, reaching $1.16. The company had a trading volume of 53,356,353 shares, compared to its average volume of 17,594,588. The firm has a 50-day moving average price of $0.64 and a 200 day moving average price of $0.76. Snail has a 52 week low of $0.34 and a 52 week high of $2.16. The company has a market capitalization of $43.82 million, a price-to-earnings ratio of -1.87 and a beta of 1.11.

Snail (NASDAQ:SNAL) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.27. The firm had revenue of $26.90 million for the quarter, compared to analysts’ expectations of $18.00 million. Snail had a negative return on equity of 15.49% and a negative net margin of 11.73%. As a group, research analysts forecast that Snail will post 0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNAL has been the topic of a number of analyst reports. Zacks Research raised Snail from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Noble Financial reissued an “outperform” rating on shares of Snail in a research report on Tuesday, April 14th. Finally, Weiss Ratings cut Snail from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Snail Company Profile

Snail Inc (NASDAQ: SNAL) is a digital entertainment company focused on the development, publishing and operation of free-to-play online games for PC and mobile platforms. The company’s portfolio spans a variety of genres that include massively multiplayer online role-playing games (MMORPGs), strategy titles, and casual mobile games. Snail manages its games throughout the entire lifecycle, providing design, development, server hosting and community support services to engage players worldwide.

Founded in the early 2000s and headquartered in Xiamen, China, Snail has expanded its footprint with regional offices in North America, Europe and Southeast Asia.