Lottery.com Inc. (NASDAQ:SEGG) Short Interest Down 43.1% in May

Lottery.com Inc. (NASDAQ:SEGG) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totaling 1,442,686 shares, a drop of 43.1% from the April 30th total of 2,536,219 shares. Based on an average daily volume of 3,102,097 shares, the days-to-cover ratio is currently 0.5 days. Approximately 11.0% of the shares of the stock are sold short.

Lottery.com Trading Up 2.1%

Shares of SEGG traded up $0.04 during trading hours on Tuesday, hitting $1.74. The company had a trading volume of 1,837,962 shares, compared to its average volume of 2,529,707. The company has a market capitalization of $28.78 million, a PE ratio of -0.43 and a beta of 2.29. Lottery.com has a one year low of $0.46 and a one year high of $17.00. The company’s fifty day moving average price is $1.08 and its two-hundred day moving average price is $1.17.

Institutional Investors Weigh In On Lottery.com

A hedge fund recently bought a new stake in Lottery.com stock. DRW Securities LLC purchased a new position in shares of Lottery.com Inc. (NASDAQ:SEGG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 58,609 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned approximately 0.64% of Lottery.com at the end of the most recent quarter. 7.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lottery.com in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Lottery.com presently has an average rating of “Hold” and a consensus target price of $20.00.

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.