Galaxy Gaming Inc. (OTCMKTS:GLXZ – Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 797 shares. Based on an average trading volume of 100,941 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.
Galaxy Gaming Stock Up 1.9%
OTCMKTS GLXZ traded up $0.03 during trading on Wednesday, reaching $1.60. 50,500 shares of the stock traded hands, compared to its average volume of 66,297. The firm has a market cap of $40.10 million, a price-to-earnings ratio of 8.42 and a beta of 0.42. The stock’s 50-day moving average price is $1.65 and its 200 day moving average price is $1.73. Galaxy Gaming has a fifty-two week low of $1.42 and a fifty-two week high of $2.99.
Galaxy Gaming announced that its board has initiated a stock repurchase plan on Wednesday, July 22nd that allows the company to buy back $4.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 10.5% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
About Galaxy Gaming
Galaxy Gaming, Inc develops, licenses and distributes casino table games, electronic gaming products and related technology for land-based and online casino operators. Its offerings include proprietary table games, side bets, progressive systems and other gaming content designed to complement traditional casino products and increase player engagement.
The company has offered a portfolio of branded and licensed games, including variations of blackjack, poker and other casino table games.
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