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

Lottery.com Inc. (NASDAQ:SEGG) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 2,536,219 shares, a growth of 121.8% from the April 15th total of 1,143,416 shares. Based on an average trading volume of 7,734,725 shares, the days-to-cover ratio is presently 0.3 days. Currently, 19.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lottery.com in a research note on Wednesday, April 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.00.

Hedge Funds Weigh In On Lottery.com

An institutional investor recently bought a new position in Lottery.com stock. DRW Securities LLC acquired a new position in Lottery.com Inc. (NASDAQ:SEGG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,609 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned about 0.64% of Lottery.com as of its most recent filing with the Securities and Exchange Commission (SEC). 7.72% of the stock is owned by institutional investors and hedge funds.

Lottery.com Stock Performance

NASDAQ:SEGG opened at $1.87 on Friday. The stock’s 50 day moving average price is $0.89 and its 200 day moving average price is $1.30. Lottery.com has a 52 week low of $0.46 and a 52 week high of $26.45. The company has a market capitalization of $31.02 million, a P/E ratio of -0.48 and a beta of 2.29.

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.