Short Interest in Snail, Inc. (NASDAQ:SNAL) Decreases By 76.4%
by Michael Walen · The Markets DailySnail, Inc. (NASDAQ:SNAL – Get Free Report) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 1,551,566 shares, a drop of 76.4% from the May 14th total of 6,578,476 shares. Based on an average daily volume of 3,371,511 shares, the short-interest ratio is currently 0.5 days. Currently, 13.0% of the company’s shares are sold short.
Analyst Ratings Changes
SNAL has been the subject of several recent analyst reports. Zacks Research raised Snail from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Wall Street Zen raised Snail to a “buy” rating in a research note on Saturday, May 30th. Noble Financial reaffirmed an “outperform” rating on shares of Snail in a research note on Tuesday, April 14th. Finally, Weiss Ratings raised Snail from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.
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Snail Stock Down 7.8%
NASDAQ:SNAL traded down $0.06 on Friday, hitting $0.71. The stock had a trading volume of 451,383 shares, compared to its average volume of 12,352,427. The business’s fifty day moving average is $0.76 and its 200 day moving average is $0.75. The company has a market cap of $26.98 million, a PE ratio of -1.15 and a beta of 1.31. Snail has a 52 week low of $0.34 and a 52 week high of $2.16.
Snail (NASDAQ:SNAL – Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.27. The business had revenue of $26.90 million for the quarter, compared to analyst estimates of $18.00 million. Snail had a negative return on equity of 15.49% and a negative net margin of 11.73%. Equities analysts predict that Snail will post 0.14 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of SNAL. Susquehanna International Group LLP lifted its holdings in shares of Snail by 63.3% in the third quarter. Susquehanna International Group LLP now owns 29,929 shares of the company’s stock valued at $33,000 after purchasing an additional 11,601 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Snail in the second quarter valued at approximately $59,000. Magnus Financial Group LLC bought a new position in shares of Snail in the fourth quarter valued at approximately $99,000. Finally, Connective Capital Management LLC bought a new position in shares of Snail in the third quarter valued at approximately $158,000. Institutional investors own 0.36% of the company’s stock.
Snail Company Profile
Snail Inc (NASDAQ: SNAL) is a digital entertainment company focused on the development, publishing and operation of free-to-play online games for PC and mobile platforms. The company’s portfolio spans a variety of genres that include massively multiplayer online role-playing games (MMORPGs), strategy titles, and casual mobile games. Snail manages its games throughout the entire lifecycle, providing design, development, server hosting and community support services to engage players worldwide.
Founded in the early 2000s and headquartered in Xiamen, China, Snail has expanded its footprint with regional offices in North America, Europe and Southeast Asia.