Super League Gaming (NASDAQ:SLGG) Short Interest Update

Super League Gaming (NASDAQ:SLGG) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 123,400 shares, a growth of 10.6% from the September 30th total of 111,600 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily trading volume, of 57,800 shares, the days-to-cover ratio is currently 2.1 days.

In related news, major shareholder Mark Jung purchased 31,560 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were bought at an average cost of $21.96 per share, with a total value of $693,057.60. Insiders purchased a total of 51,372 shares of company stock worth $773,881 over the last three months.

Several institutional investors have recently added to or reduced their stakes in the business. Security Benefit Life Insurance Co. KS purchased a new position in Super League Gaming in the 2nd quarter worth approximately $2,532,000. 1492 Capital Management LLC bought a new stake in Super League Gaming in the 2nd quarter worth approximately $1,492,000. Perritt Capital Management Inc. bought a new stake in Super League Gaming in the 2nd quarter worth approximately $812,000. Vanguard Group Inc. bought a new position in shares of Super League Gaming during the 2nd quarter valued at approximately $793,000. Finally, Boston Advisors LLC increased its position in shares of Super League Gaming by 94.2% during the 2nd quarter. Boston Advisors LLC now owns 64,324 shares of the company’s stock valued at $550,000 after purchasing an additional 31,202 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Shares of NASDAQ:SLGG traded down $0.03 during midday trading on Friday, reaching $2.96. The company had a trading volume of 65,800 shares, compared to its average volume of 74,598. The company’s 50 day moving average price is $3.75 and its 200 day moving average price is $6.26. Super League Gaming has a 52-week low of $2.69 and a 52-week high of $11.55.

Super League Gaming (NASDAQ:SLGG) last released its quarterly earnings data on Wednesday, November 13th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.07). The firm had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $0.30 million. As a group, research analysts predict that Super League Gaming will post -2.91 earnings per share for the current year.

Separately, ValuEngine downgraded shares of Super League Gaming from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Super League Gaming presently has a consensus rating of “Buy” and an average price target of $13.31.

About Super League Gaming

Super League Gaming, Inc operates an esports community and content platform. The company through its platform connects a network of gamers, venues, and brand partners to enable local, social, and competitive esports that could be broadcasted through its platform. The company was formerly known as Nth Games, Inc and changed its name to Super League Gaming, Inc in July 2015.

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