Galaxy Gaming Inc. (OTCMKTS:GLXZ) Stock Short Interest Drops 77.0%

Galaxy Gaming Inc. (OTCMKTS:GLXZ) was the target of a large decrease in short interest in October. As of October 30th, there was short interest totaling 712 shares, a decrease of 77.0% from the October 15th total of 3,089 shares. Based on an average daily volume of 100,447 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Galaxy Gaming Price Performance

Shares of OTCMKTS GLXZ opened at $1.57 on Thursday. The stock has a market capitalization of $39.50 million, a price-to-earnings ratio of 4.49 and a beta of 0.42. The firm’s 50 day simple moving average is $1.60 and its 200-day simple moving average is $1.76. Galaxy Gaming has a 12 month low of $1.42 and a 12 month high of $2.99.

Galaxy Gaming (OTCMKTS:GLXZ) last posted its earnings results on Monday, November 9th. The company reported $0.20 earnings per share (EPS) for the quarter. Galaxy Gaming had a net margin of 28.32% and a negative return on equity of 59.73%. The firm had revenue of $7.98 million during the quarter.

Galaxy Gaming declared that its board has authorized a share repurchase plan on Wednesday, July 22nd that permits the company to repurchase $4 million in outstanding shares. This repurchase authorization permits the company to purchase up to 10.5% of its shares through open market purchases. Share repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Galaxy Gaming Company Profile

Galaxy Gaming, Inc. is a gaming technology and casino entertainment company that develops, licenses and distributes proprietary casino table games, electronic gaming products and related systems. Its offerings are designed for land-based casinos, online gaming operators and other regulated gaming businesses. The company’s portfolio has included proprietary table games, side bets, progressive jackpots and electronic versions of casino games. Galaxy Gaming also provides casino management and jackpot systems, game content and licensing services, allowing operators to offer its products under regulatory approvals in applicable jurisdictions.