Super League Gaming (NASDAQ:SLGG) Short Interest Down 25.4% in July

Super League Gaming (NASDAQ:SLGG) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 144,900 shares, a decline of 25.4% from the June 30th total of 194,300 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily volume of 41,300 shares, the days-to-cover ratio is currently 3.5 days.

SLGG stock traded down $0.11 during midday trading on Tuesday, hitting $6.50. The stock had a trading volume of 8,242 shares, compared to its average volume of 27,584. The stock’s 50-day moving average price is $7.84. Super League Gaming has a 52-week low of $6.00 and a 52-week high of $11.55.

Super League Gaming (NASDAQ:SLGG) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.57) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.74) by $0.17. The firm had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $0.15 million. As a group, equities research analysts predict that Super League Gaming will post -1.69 earnings per share for the current year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Super League Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Northland Securities reaffirmed a “buy” rating and issued a $15.00 price target on shares of Super League Gaming in a research note on Thursday, April 18th.

In other Super League Gaming news, Director Jeff Patrick Gehl bought 10,000 shares of Super League Gaming stock in a transaction dated Monday, May 20th. The shares were purchased at an average cost of $7.58 per share, with a total value of $75,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Jung bought 4,508 shares of Super League Gaming stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $7.43 per share, for a total transaction of $33,494.44. The disclosure for this purchase can be found here. Insiders acquired 34,500 shares of company stock valued at $267,848 in the last quarter.

A number of hedge funds have recently modified their holdings of SLGG. Founders Financial Securities LLC purchased a new stake in shares of Super League Gaming during the second quarter worth about $92,000. Creative Planning purchased a new stake in shares of Super League Gaming during the first quarter worth about $282,000. Boston Advisors LLC grew its position in shares of Super League Gaming by 94.2% during the second quarter. Boston Advisors LLC now owns 64,324 shares of the company’s stock worth $550,000 after purchasing an additional 31,202 shares in the last quarter. First Eagle Investment Management LLC purchased a new stake in shares of Super League Gaming during the first quarter worth about $661,000. Finally, 1492 Capital Management LLC purchased a new stake in shares of Super League Gaming during the second quarter worth about $1,492,000. 4.81% of the stock is currently owned by institutional investors.

Super League Gaming Company Profile

Super League Gaming, Inc operates an esports community and content platform. The company through its platform connects a network of gamers, venues, and brand partners to enable local, social, and competitive esports that could be broadcasted through its platform. The company was formerly known as Nth Games, Inc and changed its name to Super League Gaming, Inc in July 2015.

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