Snail, Inc. (NASDAQ:SNAL) Short Interest Up 331.8% in May

Snail, Inc. (NASDAQ:SNAL) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 6,578,476 shares, a growth of 331.8% from the April 30th total of 1,523,391 shares. Currently, 55.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 32,704,524 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Snail

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNAL. Susquehanna International Group LLP grew its stake in Snail by 63.3% in the third quarter. Susquehanna International Group LLP now owns 29,929 shares of the company’s stock worth $33,000 after purchasing an additional 11,601 shares during the period. Evergreen Capital Management LLC purchased a new stake in Snail in the second quarter worth $59,000. Magnus Financial Group LLC purchased a new stake in Snail in the fourth quarter worth $99,000. Finally, Connective Capital Management LLC purchased a new stake in Snail in the third quarter worth $158,000. 0.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNAL has been the subject of a number of recent research reports. Weiss Ratings upgraded Snail from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday. Zacks Research upgraded Snail from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Noble Financial restated an “outperform” rating on shares of Snail in a report on Tuesday, April 14th. Finally, Wall Street Zen upgraded Snail to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Snail Stock Performance

Shares of Snail stock traded down $0.00 during midday trading on Friday, reaching $0.90. 1,055,456 shares of the company’s stock traded hands, compared to its average volume of 19,945,924. The company has a market cap of $34.17 million, a PE ratio of -1.46 and a beta of 1.11. The stock has a 50 day moving average of $0.71 and a 200-day moving average of $0.76. Snail has a 12 month low of $0.34 and a 12 month high of $2.16.

Snail (NASDAQ:SNAL) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.27. The company had revenue of $26.90 million for the quarter, compared to analysts’ expectations of $18.00 million. Snail had a negative return on equity of 15.49% and a negative net margin of 11.73%. On average, equities analysts anticipate that Snail will post 0.14 earnings per share for the current fiscal year.

Snail Company Profile

Snail Inc (NASDAQ: SNAL) is a digital entertainment company focused on the development, publishing and operation of free-to-play online games for PC and mobile platforms. The company’s portfolio spans a variety of genres that include massively multiplayer online role-playing games (MMORPGs), strategy titles, and casual mobile games. Snail manages its games throughout the entire lifecycle, providing design, development, server hosting and community support services to engage players worldwide.

Founded in the early 2000s and headquartered in Xiamen, China, Snail has expanded its footprint with regional offices in North America, Europe and Southeast Asia.