Short Interest in Lottery.com Inc. (NASDAQ:SEGG) Decreases By 42.1%

Lottery.com Inc. (NASDAQ:SEGG) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 678,197 shares, a decrease of 42.1% from the June 15th total of 1,171,939 shares. Based on an average trading volume of 808,137 shares, the days-to-cover ratio is currently 0.8 days. Approximately 5.2% of the company’s stock are sold short.

Analyst Ratings Changes

A number of research analysts recently commented on SEGG shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lottery.com in a research report on Monday, July 6th. Wall Street Zen lowered shares of Lottery.com from a “sell” rating to a “strong sell” rating in a research report on Sunday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lottery.com presently has an average rating of “Hold” and a consensus target price of $20.00.

Lottery.com Price Performance

Shares of SEGG stock traded down $0.02 during trading hours on Thursday, reaching $0.77. 881,835 shares of the company’s stock were exchanged, compared to its average volume of 6,599,200. The company’s 50 day moving average is $1.32 and its two-hundred day moving average is $1.11. The company has a market cap of $12.72 million, a P/E ratio of -0.20 and a beta of 2.44. Lottery.com has a 1 year low of $0.46 and a 1 year high of $13.10.

Institutional Investors Weigh In On Lottery.com

A hedge fund recently bought a new position in Lottery.com stock. DRW Securities LLC purchased a new stake in Lottery.com Inc. (NASDAQ:SEGG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 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. Hedge funds and other institutional investors own 7.72% of the company’s stock.

About Lottery.com

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.