Lottery.com (NASDAQ:LTRY) Rating Upgraded to Maintain Zacks Investment Research

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Lottery.com (NASDAQ:LTRY) has been updated by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note published Thursday, Zacks.com reports.

According to Zacks, “Lottery.com is a technology company. It uses mobile and online platforms that allow players and business partners located primarily in the United States and around the world to remotely purchase lottery games sanctioned by the Lottery.com, formerly known as Trident Acquisitions Corp., is based in AUSTIN, Texas.”

Separately, Chardan Capital began covering Lottery.com shares in a research report on Tuesday, November 23. They set a “buy” rating and a price target of $14.00 on the stock.

Stock Lottery.com opened at $4.74 on Thursday. The company’s fifty-day moving average is $6.77 and its 200-day moving average is $10.12. Lottery.com has a 52 week minimum of $4.50 and a 52 week maximum of $17.50.

Lottery.com (NASDAQ:LTRY) last released its quarterly results on Monday, November 15. The company reported earnings per share (EPS) of $0.24 for the quarter. The company posted revenue of $32.25 million for the quarter, versus $22.50 million expected by analysts. On average, stock research analysts expect Lottery.com to post 0.09 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of LTRY. B. Riley Wealth Management Inc. increased its position in Lottery.com by 19.9% ​​during the second quarter. B. Riley Wealth Management Inc. now owns 18,700 shares of the company valued at $236,000 after acquiring 3,100 additional shares in the last quarter. Geode Capital Management LLC bought a new position in shares of Lottery.com in the second quarter for a value of approximately $154,000. MYDA Advisors LLC bought a new position in shares of Lottery.com in the second quarter for a value of approximately $379,000. Morgan Stanley increased its holdings of Lottery.com shares by 14,000.0% in the second quarter. Morgan Stanley now owns 13,113 shares of the company worth $166,000 after buying 13,020 more shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Lottery.com stock in the second quarter worth approximately $586,000. Institutional investors and hedge funds hold 2.53% of the company’s shares.

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Company Profile Lottery.com

Trident Acquisitions Corp. has no significant activities. It intends to enter into a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more target businesses primarily in the oil and gas or other natural resources sector.

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