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

Lottery.com Inc. (NASDAQ:SEGG) was the target of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 444,633 shares, a drop of 44.2% from the February 26th total of 797,026 shares. Currently, 4.4% of the shares of the company are sold short. Based on an average daily trading volume, of 432,620 shares, the short-interest ratio is currently 1.0 days.

Analysts Set New Price Targets

SEGG has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lottery.com in a report on Friday, January 9th. Wall Street Zen lowered shares of Lottery.com from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Lottery.com stock. DRW Securities LLC bought a new stake in shares of Lottery.com Inc. (NASDAQ:SEGG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 58,609 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned approximately 0.64% of Lottery.com at the end of the most recent reporting period. Institutional investors own 7.72% of the company’s stock.

Lottery.com Stock Down 8.5%

Shares of Lottery.com stock opened at $0.59 on Friday. The firm has a market cap of $7.51 million, a PE ratio of -0.15 and a beta of 1.46. Lottery.com has a twelve month low of $0.46 and a twelve month high of $26.45. The business has a 50-day moving average price of $1.22 and a 200 day moving average price of $2.24.

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.