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

Bragg Gaming Group (NASDAQ:BRAG) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Bragg Gaming Group Stock Up 2.5%

Shares of BRAG opened at $2.04 on Wednesday. The company has a market cap of $51.09 million, a price-to-earnings ratio of -5.51 and a beta of 0.87. Bragg Gaming Group has a twelve month low of $1.46 and a twelve month high of $4.82. The company has a 50 day moving average of $1.80 and a two-hundred day moving average of $2.08.

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

Institutional Investors Weigh In On Bragg Gaming Group

An institutional investor recently raised its position in Bragg Gaming Group stock. Goldman Sachs Group Inc. raised its position in Bragg Gaming Group Inc. (NASDAQ:BRAG) by 40.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,263 shares of the company’s stock after acquiring an additional 20,633 shares during the period. Goldman Sachs Group Inc. owned approximately 0.29% of Bragg Gaming Group worth $297,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 4.04% of the company’s stock.

Bragg Gaming Group Company Profile

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.