The Lottery Co. Limited (OTCMKTS:LTRCF) Sees Large Drop in Short Interest

The Lottery Co. Limited (OTCMKTS:LTRCF) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 2,072,662 shares, a drop of 61.6% from the September 15th total of 5,394,813 shares. Based on an average trading volume of 339 shares, the days-to-cover ratio is currently 6,114.0 days.

Lottery Stock Performance

Shares of OTCMKTS:LTRCF opened at C$3.35 on Tuesday. The business has a 50 day moving average price of C$3.64 and a 200 day moving average price of C$3.72. Lottery has a twelve month low of C$3.35 and a twelve month high of C$3.58.

Analysts Set New Price Targets

LTRCF has been the topic of several recent research reports. Citigroup cut shares of Lottery from a “buy” rating to a “neutral” rating in a research note on Monday, July 6th. Royal Bank Of Canada initiated coverage on Lottery in a research report on Monday, August 3rd. They issued a “sector perform” rating and a $5.75 price target for the company. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Lottery Company Profile

The Lottery Corporation Limited is an Australian gaming and entertainment company focused on lotteries and Keno. It provides official lottery products and draw-based games, including jackpot lotteries, instant-win games and other lottery offerings distributed through retail and digital channels.

The company operates under well-known Australian lottery brands, including The Lott and Keno. Its services are available through a network of retail outlets and online platforms, allowing customers to purchase entries, check results and manage lottery-related activities digitally.

The Lottery Corporation was established following the 2022 demerger of Tabcorp Holdings’ lotteries and Keno businesses.