Snail, Inc. (NASDAQ:SNAL) Sees Significant Drop in Short Interest

Snail, Inc. (NASDAQ:SNAL) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 114,302 shares, a drop of 86.4% from the June 30th total of 838,923 shares. Based on an average daily volume of 834,067 shares, the short-interest ratio is currently 0.1 days. Currently, 4.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of research firms recently commented on SNAL. Weiss Ratings upgraded shares of Snail from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, May 27th. Noble Financial restated an “outperform” rating on shares of Snail in a report on Thursday, July 2nd. Wall Street Zen upgraded shares of Snail to a “buy” rating in a report on Saturday, May 30th. Finally, Zacks Research upgraded shares of Snail from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Snail Stock Up 9.8%

Shares of NASDAQ SNAL traded up $0.46 during mid-day trading on Friday, hitting $5.14. 115,008 shares of the company traded hands, compared to its average volume of 479,968. Snail has a 1 year low of $1.70 and a 1 year high of $10.80. The stock has a market capitalization of $43.79 million, a price-to-earnings ratio of -1.66 and a beta of 1.44. The business has a 50 day moving average of $4.06 and a two-hundred day moving average of $3.60.

Snail (NASDAQ:SNAL) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.05) by $1.35. 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 anticipate that Snail will post 3.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP increased its position in shares of Snail by 63.3% in the third quarter. Susquehanna International Group LLP now owns 29,929 shares of the company’s stock worth $33,000 after acquiring an additional 11,601 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Snail in the 2nd quarter valued at approximately $59,000. Finally, Connective Capital Management LLC purchased a new stake in shares of Snail in the 3rd quarter valued at approximately $158,000. 0.36% of the stock is owned by hedge funds and other institutional investors.

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.