Zacks Research Downgrades Bragg Gaming Group (NASDAQ:BRAG) to Strong Sell

Bragg Gaming Group (NASDAQ:BRAG) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bragg Gaming Group in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $5.00.

Bragg Gaming Group Stock Performance

BRAG opened at $1.86 on Tuesday. The business’s 50-day simple moving average is $1.84 and its 200 day simple moving average is $2.22. Bragg Gaming Group has a 52-week low of $1.46 and a 52-week high of $4.82. The firm has a market capitalization of $46.57 million, a PE ratio of -5.03 and a beta of 0.86.

Bragg Gaming Group (NASDAQ:BRAG) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Bragg Gaming Group had a negative return on equity of 12.52% and a negative net margin of 7.59%.The company had revenue of $32.66 million for the quarter, compared to analyst estimates of $28.35 million. On average, research analysts forecast that Bragg Gaming Group will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Bragg Gaming Group

An institutional investor recently raised its position in Bragg Gaming Group stock. Jane Street Group LLC grew its stake in Bragg Gaming Group Inc. (NASDAQ:BRAG) by 43.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,009 shares of the company’s stock after purchasing an additional 6,072 shares during the quarter. Jane Street Group LLC owned approximately 0.08% of Bragg Gaming Group worth $42,000 as of its most recent SEC filing. Institutional investors and hedge funds own 4.04% of the company’s stock.

About Bragg Gaming Group

Bragg Gaming Group is a business-to-business supplier of online gaming content, technology and platform solutions. The company develops and distributes a mix of proprietary, third-party and licensed casino games, including video slots, table games and live dealer experiences. Its core offering centers on a scalable gaming platform designed to support operator integration, player management and advanced analytics.

Bragg’s technology stack features its flagship ORYX Gaming platform, which provides a centralized hub for game aggregation, platform services and regulatory compliance tools.