Golden Matrix Group (NASDAQ:GMGI) PT Raised to $4.00 at EF Hutton Acquisition Co. I

Golden Matrix Group (NASDAQ:GMGI – Get Rating) had its target price lifted by analysts at EF Hutton Acquisition Co. I from $3.00 to $4.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. EF Hutton Acquisition Co. I’s price target points to a potential upside of 19.40% from the company’s previous close.

Golden Matrix Group Price Performance

NASDAQ GMGI opened at $3.35 on Thursday. The business has a fifty day moving average of $2.63 and a 200-day moving average of $3.22. Golden Matrix Group has a fifty-two week low of $1.89 and a fifty-two week high of $10.72.

Hedge Funds Weigh In On Golden Matrix Group

Several institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC increased its stake in Golden Matrix Group by 93.5% in the third quarter. Citadel Advisors LLC now owns 23,786 shares of the company’s stock valued at $69,000 after purchasing an additional 11,494 shares during the last quarter. Northern Trust Corp acquired a new position in Golden Matrix Group in the second quarter valued at $59,000. Virtu Financial LLC acquired a new position in Golden Matrix Group in the third quarter valued at $37,000. Finally, State Street Corp acquired a new position in Golden Matrix Group in the second quarter valued at $51,000. 2.90% of the stock is currently owned by institutional investors and hedge funds.

Golden Matrix Group Company Profile

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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 customers located primarily in the Asia Pacific region and Europe. Its platform facilitates gaming customers in operating online casinos, sportsbooks, lottery, and live games; and provides customers with access to a portfolio of licensed gaming content, which are provided by gaming content providers.