Galaxy Gaming (OTCMKTS:GLXZ) Share Price Breaks Below Two Hundred Day Moving Average – What’s Next?

Galaxy Gaming Inc. (OTCMKTS:GLXZ) shares crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $1.73 and traded as low as $1.53. Galaxy Gaming shares last traded at $1.5940, with a volume of 522,080 shares.

Galaxy Gaming Price Performance

The stock has a fifty day moving average price of $1.65 and a two-hundred day moving average price of $1.73. The company has a market cap of $39.95 million, a P/E ratio of 8.39 and a beta of 0.42.

Galaxy Gaming announced that its Board of Directors has initiated a stock buyback program on Wednesday, July 22nd that authorizes the company to repurchase $4.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.5% of its shares through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Galaxy Gaming Company Profile

Galaxy Gaming, Inc develops, licenses and distributes casino table games, electronic gaming products and related technology for land-based and online casino operators. Its offerings include proprietary table games, side bets, progressive systems and other gaming content designed to complement traditional casino products and increase player engagement.

The company has offered a portfolio of branded and licensed games, including variations of blackjack, poker and other casino table games.