Galaxy Gaming Inc. (OTCMKTS:GLXZ – Get Free Report) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $1.72 and traded as low as $1.59. Galaxy Gaming shares last traded at $1.61, with a volume of 39,650 shares traded.
Galaxy Gaming Trading Up 0.2%
The stock’s 50 day moving average price is $1.64 and its 200 day moving average price is $1.72. The firm has a market cap of $40.35 million, a PE ratio of 8.47 and a beta of 0.42.
Galaxy Gaming declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 22nd that permits the company to repurchase $4.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 10.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
About Galaxy Gaming
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.
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