Lottery.com Inc. (NASDAQ:SEGG) Sees Significant Decrease in Short Interest

Lottery.com Inc. (NASDAQ:SEGG) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 444,633 shares, a drop of 44.2% from the February 26th total of 797,026 shares. Currently, 4.4% of the company’s stock are short sold. Based on an average daily volume of 432,620 shares, the short-interest ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SEGG shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lottery.com in a report on Friday, January 9th. Wall Street Zen lowered shares of Lottery.com from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.00.

Lottery.com Stock Performance

Shares of NASDAQ:SEGG traded up $0.04 on Friday, hitting $0.63. 452,228 shares of the company’s stock were exchanged, compared to its average volume of 477,003. Lottery.com has a 1-year low of $0.46 and a 1-year high of $26.45. The company has a market capitalization of $7.96 million, a PE ratio of -0.16 and a beta of 1.46. The firm’s 50-day moving average is $1.20 and its 200 day moving average is $2.17.

Institutional Trading of Lottery.com

An institutional investor recently bought a new position in Lottery.com stock. DRW Securities LLC bought a new stake in Lottery.com Inc. (NASDAQ:SEGG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 quarter. 7.72% of the stock is owned by institutional investors and hedge funds.

Lottery.com Company Profile

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.