Golden Matrix Group (NASDAQ:GMGI) Trading Down 2.7% – Time to Sell?

Golden Matrix Group, Inc. (NASDAQ:GMGI)’s share price fell 2.7% during trading on Tuesday . The company traded as low as $6.1650 and last traded at $6.22. 19,660 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 247,246 shares. The stock had previously closed at $6.39.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Golden Matrix Group in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell” and an average target price of $21.60.

Golden Matrix Group Stock Up 3.6%

The company has a 50 day moving average price of $7.47 and a two-hundred day moving average price of $9.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.61 and a quick ratio of 0.52. The stock has a market cap of $888.39 million, a PE ratio of -125.80 and a beta of 0.34.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GMGI. Marex Group plc purchased a new position in shares of Golden Matrix Group in the second quarter worth $26,000. Virtu Financial LLC bought a new stake in shares of Golden Matrix Group in the third quarter worth $33,000. Continuum Advisory LLC grew its holdings in shares of Golden Matrix Group by 375.0% in the fourth quarter. Continuum Advisory LLC now owns 57,000 shares of the company’s stock worth $46,000 after acquiring an additional 45,000 shares during the period. Marshall Wace LLP bought a new stake in shares of Golden Matrix Group in the second quarter worth $57,000. Finally, Deutsche Bank AG grew its holdings in shares of Golden Matrix Group by 224.4% in the fourth quarter. Deutsche Bank AG now owns 94,695 shares of the company’s stock worth $76,000 after acquiring an additional 65,501 shares during the period. Hedge funds and other institutional investors own 2.74% of the company’s stock.

Golden Matrix Group Company Profile

Golden Matrix Group Inc is a technology-driven gaming entertainment company that develops and delivers digital real-money gaming solutions. Incorporated in Nevada with principal operating offices in Malta, the company focuses on providing a comprehensive online gaming platform to licensed operators. Golden Matrix Group’s core mission is to enable its clients to launch and scale casino, sports betting, lottery and other interactive gaming offerings—backed by proprietary technology and a portfolio of third-party content integrations.

The company’s flagship product, the KaFe Rocks platform, combines player account management, risk and fraud monitoring, payment processing, and back-office reporting into a single, modular system.