Lottery.com Inc. (NASDAQ:SEGG) Short Interest Down 88.4% in August

Lottery.com Inc. (NASDAQ:SEGG) was the target of a significant drop in short interest in August. As of August 14th, there was short interest totaling 131,625 shares, a drop of 88.4% from the July 30th total of 1,139,511 shares. Based on an average daily trading volume, of 145,397 shares, the days-to-cover ratio is currently 0.9 days. Approximately 5.1% of the company’s stock are sold short.

Lottery.com Stock Up 11.9%

SEGG traded up $0.30 on Tuesday, hitting $2.83. The company’s stock had a trading volume of 115,256 shares, compared to its average volume of 799,333. The company’s 50 day simple moving average is $4.64 and its 200-day simple moving average is $6.81. Lottery.com has a 12 month low of $2.25 and a 12 month high of $52.94. The firm has a market cap of $9.23 million, a P/E ratio of -0.10 and a beta of 2.50.

Wall Street Analysts Forecast Growth

SEGG has been the subject of a number of research analyst reports. Weiss Ratings cut Lottery.com from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. Wall Street Zen cut Lottery.com from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $140.00.

Hedge Funds Weigh In On Lottery.com

A hedge fund recently bought a new position in Lottery.com stock. DRW Securities LLC acquired a new position in Lottery.com Inc. (NASDAQ:SEGG) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 58,609 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned about 0.64% of Lottery.com as of its most recent filing with the SEC. 7.72% of the stock is owned by institutional investors.

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.