Bragg Gaming Group (NASDAQ:BRAG) Stock Rating Lowered by Zacks Research

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

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

Bragg Gaming Group Stock Performance

Shares of NASDAQ:BRAG opened at $1.86 on Tuesday. Bragg Gaming Group has a 52 week low of $1.46 and a 52 week high of $4.82. The company’s fifty day moving average is $1.84 and its 200-day moving average is $2.22. The company 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 announced its earnings results on Thursday, March 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $32.66 million for the quarter, compared to analyst estimates of $28.35 million. On average, analysts forecast that Bragg Gaming Group will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Bragg Gaming Group

A hedge fund recently raised its stake in Bragg Gaming Group stock. Goldman Sachs Group Inc. grew its stake in Bragg Gaming Group Inc. (NASDAQ:BRAG) by 40.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,263 shares of the company’s stock after acquiring an additional 20,633 shares during the period. Goldman Sachs Group Inc. owned 0.29% of Bragg Gaming Group worth $297,000 as of its most recent filing with the Securities and Exchange Commission. 4.04% of the stock is owned by institutional investors and hedge funds.

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.