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

Lottery.com Inc. (NASDAQ:SEGG) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 444,633 shares, a drop of 44.2% from the February 26th total of 797,026 shares. Approximately 4.4% of the company’s stock are sold short. Based on an average trading volume of 432,620 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Lottery.com in a report on Friday, January 9th. Wall Street Zen lowered shares of Lottery.com from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.00.

Lottery.com Stock Down 8.5%

Shares of NASDAQ:SEGG opened at $0.59 on Friday. Lottery.com has a 52-week low of $0.46 and a 52-week high of $26.45. The stock has a market cap of $7.51 million, a price-to-earnings ratio of -0.15 and a beta of 1.46. The business has a 50-day moving average price of $1.22 and a 200-day moving average price of $2.24.

Institutional Trading of Lottery.com

An institutional investor recently bought a new position in Lottery.com stock. DRW Securities LLC bought a new stake in shares of Lottery.com Inc. (NASDAQ:SEGG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 58,609 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned 0.64% of Lottery.com at the end of the most recent reporting period. Institutional investors and hedge funds own 7.72% of the company’s stock.

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.