Golden Nugget Online Gaming, Inc. (NASDAQ:GNOG) Short Interest Update

Golden Nugget Online Gaming, Inc. (NASDAQ:GNOG) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 2,360,000 shares, an increase of 154.8% from the March 15th total of 926,100 shares. Based on an average daily volume of 2,370,000 shares, the days-to-cover ratio is currently 1.0 days. Currently, 6.4% of the company’s stock are sold short.

NASDAQ:GNOG traded down $0.02 during trading hours on Wednesday, reaching $15.55. 21,431 shares of the stock were exchanged, compared to its average volume of 2,394,826. Golden Nugget Online Gaming has a 52 week low of $9.79 and a 52 week high of $27.18. The firm has a 50 day simple moving average of $15.65 and a 200-day simple moving average of $18.13.

A number of equities analysts have issued reports on GNOG shares. Jefferies Financial Group initiated coverage on Golden Nugget Online Gaming in a research report on Tuesday. They issued a “buy” rating and a $28.00 target price on the stock. Benchmark boosted their target price on shares of Golden Nugget Online Gaming from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, March 24th.

A number of institutional investors and hedge funds have recently made changes to their positions in GNOG. Bedel Financial Consulting Inc. acquired a new position in Golden Nugget Online Gaming in the fourth quarter worth $25,000. Citigroup Inc. acquired a new position in shares of Golden Nugget Online Gaming in the 4th quarter valued at about $30,000. Wells Fargo & Company MN bought a new stake in shares of Golden Nugget Online Gaming during the 4th quarter valued at about $88,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Golden Nugget Online Gaming during the fourth quarter worth about $99,000. Finally, Sowell Financial Services LLC bought a new position in Golden Nugget Online Gaming in the fourth quarter worth about $155,000. Hedge funds and other institutional investors own 21.52% of the company’s stock.

About Golden Nugget Online Gaming

Golden Nugget Online Gaming, Inc operates as an online gaming and digital sports entertainment company. It offers patrons to play their favorite casino games and bet on live-action sports events in New Jersey and Michigan. The company is headquartered in Houston, Texas.

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