Inspired Entertainment (NASDAQ:INSE) Upgraded to “Buy” at Zacks Investment Research

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Inspired Entertainment (NASDAQ:INSE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, reports. The brokerage presently has a $7.50 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 8.70% from the stock’s previous close.

According to Zacks, “Inspired Entertainment, Inc. is a games technology company. It engaged in supplying Virtual Sports, Mobile Gaming and Server-Based Gaming systems to regulated lottery, betting and gaming operators. Inspired Entertainment Inc., formerly known as Hydra Industries Acquisition Corp, is based in New York. “

Separately, Craig Hallum boosted their target price on shares of Inspired Entertainment from $5.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 12th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Inspired Entertainment presently has an average rating of “Buy” and an average target price of $8.75.

Shares of NASDAQ:INSE traded up $0.11 during midday trading on Wednesday, reaching $6.90. The company’s stock had a trading volume of 12,068 shares, compared to its average volume of 22,121. The firm has a market cap of $158.90 million, a price-to-earnings ratio of -2.83 and a beta of 1.52. The business has a 50 day moving average price of $6.55 and a 200 day moving average price of $4.46. Inspired Entertainment has a 1 year low of $1.87 and a 1 year high of $7.32.

Inspired Entertainment (NASDAQ:INSE) last issued its quarterly earnings results on Thursday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.72. The business had revenue of $60.10 million during the quarter, compared to analyst estimates of $41.32 million. Analysts expect that Inspired Entertainment will post -2.97 EPS for the current year.

A hedge fund recently bought a new stake in Inspired Entertainment stock. Jane Street Group LLC purchased a new position in shares of Inspired Entertainment, Inc. (NASDAQ:INSE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 31,051 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned 0.13% of Inspired Entertainment at the end of the most recent quarter. 55.63% of the stock is currently owned by institutional investors.

About Inspired Entertainment

Inspired Entertainment, Inc, a business-to-business gaming technology company, supplies virtual sports and server based gaming (SBG) products to regulated lottery, betting, and gaming operators worldwide. The company operates through three segments: SBG, Virtual Sports, and Acquired Businesses. It designs, develops, markets, and distributes a portfolio of games through its digital network architecture for licensed betting offices, casinos, gaming hall operators, bingo operators, and regulated operators of lotteries, as well as government-affiliated operators.

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