Bragg Gaming Group (NASDAQ:BRAG) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Bragg Gaming Group (NASDAQ:BRAG) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

Bragg Gaming Group Stock Up 2.5%

Shares of BRAG stock opened at $2.04 on Wednesday. The stock has a market cap of $51.09 million, a P/E ratio of -5.51 and a beta of 0.87. Bragg Gaming Group has a 52 week low of $1.46 and a 52 week high of $4.82. The company’s fifty day simple moving average is $1.80 and its two-hundred day simple moving average is $2.08.

Bragg Gaming Group (NASDAQ:BRAG) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $32.66 million during the quarter, compared to analysts’ expectations of $28.35 million. Bragg Gaming Group had a negative return on equity of 12.52% and a negative net margin of 7.59%. On average, analysts anticipate that Bragg Gaming Group will post -0.08 EPS for the current fiscal year.

Institutional Trading of Bragg Gaming Group

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