Limited GAN (NASDAQ: GAN – Get an assessment) – Investment analysts B. Riley cut their third-quarter 2022 earnings estimates for GAN shares in a research report released to clients and investors on Tuesday, August 16. B. Riley analyst D. Bain now expects the company to post earnings of ($0.15) per share for the quarter, down from his previous forecast of ($0.07). B. Riley has a “Buy” rating and a price target of $6.50 on the stock. The consensus estimate of GAN’s current annual earnings is ($0.34) per share. B. Riley also released estimates for GAN Q4 2022 earnings at ($0.06) EPS, FY2022 earnings at $0.22 EPS, Q1 2023 earnings at ($0.11 $) EPS, Q2 2023 earnings at ($0.10) EPS, Q3 2023 earnings at ($0.09) EPS, Q4 2023 earnings at ($0.02) EPS and earnings for the year 2023 at ($0.32) EPS.
Separately, Craig Hallum cut his price target on GAN shares to $6.00 and gave the stock an “na” rating in a Tuesday, May 17 research report.
GAN stock up 3.3%
Shares of NASDAQ GAN opened at $3.15 on Thursday. The company’s 50-day simple moving average is $3.34 and its 200-day simple moving average is $4.30. The company has a market capitalization of $133.10 million, a price-earnings ratio of -2.23 and a beta of 1.52. GAN has a 12 month minimum of $2.81 and a 12 month maximum of $18.19.
GAN (NASDAQ: GAN – Get an assessment) last released its quarterly results on Monday, May 16. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The company posted revenue of $37.49 million for the quarter, versus a consensus estimate of $33.71 million. GAN has a negative net margin of 43.86% and a negative return on equity of 13.61%.
GAN Institutional Trade
Major investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in GAN shares by 18.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 18,727 shares of the company worth $172,000 after acquiring 2,899 additional shares in the last quarter. Qube Research & Technologies Ltd bought a new position in GAN shares in the fourth quarter worth $156,000. Zurcher Kantonalbank Zurcher Kantonalbank increased its shareholding in GAN to 92.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,068 shares of the company valued at $56,000 after buying an additional 2,921 shares last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in GAN during the 4th quarter at a value of $99,000. Finally, Cowen Prime Advisors LLC increased its stake in GAN by 181.3% during the 4th quarter. Cowen Prime Advisors LLC now owns 214,100 shares of the company valued at $1,968,000 after purchasing an additional 138,000 shares in the last quarter. 49.54% of the shares are held by institutional investors.
About the GAN
GAN Limited operates as a business-to-business (B2B) provider of business-as-a-service software solutions for online casino games and sports betting applications in the United States, Europe, Latin America and internationally . The Company operates in two segments, B2B and Business-to-Consumer (B2C).
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