Galaxy Gaming Inc. (OTCMKTS:GLXZ) Sees Significant Growth in Short Interest

Galaxy Gaming Inc. (OTCMKTS:GLXZ) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 3,089 shares, a growth of 287.6% from the September 30th total of 797 shares. Based on an average trading volume of 176,804 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

Galaxy Gaming Price Performance

Galaxy Gaming stock remained flat at $1.61 during midday trading on Wednesday. 18,493 shares of the company were exchanged. The company’s 50 day simple moving average is $1.63 and its 200 day simple moving average is $1.83. Galaxy Gaming has a 12 month low of $1.42 and a 12 month high of $2.99.

Galaxy Gaming announced that its board has approved a share repurchase program on Wednesday, July 22nd that authorizes the company to repurchase $4 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.5% of its stock through open market purchases. Share repurchase programs are often an indication that the company’s leadership believes its stock is undervalued.

Galaxy Gaming Company Profile

Galaxy Gaming, Inc is a gaming technology and casino entertainment company that develops, licenses and distributes proprietary casino table games, electronic gaming products and related systems. Its offerings are designed for land-based casinos, online gaming operators and other regulated gaming businesses.

The company’s portfolio has included proprietary table games, side bets, progressive jackpots and electronic versions of casino games. Galaxy Gaming also provides casino management and jackpot systems, game content and licensing services, allowing operators to offer its products under regulatory approvals in applicable jurisdictions.

Founded in 1997 and headquartered in Las Vegas, Nevada, Galaxy Gaming has historically served casino operators in the United States and international markets.