Golden Matrix Group, Inc. (NASDAQ:GMGI – Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 15, there was short interest totaling 1,040,000 shares, an increase of 156.7% from the total of 405,200 shares as of June 30. Based on an average trading volume of 223,200 shares, the days-to-cover ratio is currently 4.7 days. Currently, 5.8% of the company’s shares are shorted.

Institutional investors weigh Golden Matrix Group

A hedge fund recently bought a new stake in shares of Golden Matrix Group. Bank of New York Mellon Corp acquired a new position in shares of Golden Matrix Group, Inc. (NASDAQ:GMGI – Free Report) during the second quarter, according to the company’s most recent Form 13F filing with the SEC. The company acquired 48,763 shares of the company’s stock, worth approximately $120,000. Bank of New York Mellon Corp owned approximately 0.13% of Golden Matrix Group at the end of the most recent quarter. Institutional investors own 2.74% of the company’s stock.

Golden Matrix Group Price Development

Golden Matrix Group shares opened at $2.54 on Friday. The company has a 50-day simple moving average of $3.36 and a 200-day simple moving average of $3.24. The stock has a market cap of $93.01 million, a price-to-earnings ratio of -127.00, and a beta of 0.49. Golden Matrix Group has a 1-year low of $2.00 and a 1-year high of $6.27.

Company Profile of Golden Matrix Group

(Get free report)

Golden Matrix Group, Inc. provides enterprise software-as-a-service solutions for online casino and sports betting operators. The Company develops and owns online gaming intellectual property; and builds gaming platforms for clients primarily located in the Asia Pacific region. The platform facilitates gaming clients in operating online casinos, sportsbooks, lotteries and live games; and provides clients with access to a portfolio of licensed gaming content, provided by gaming content providers.

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