Elys Game Technology price target lowered to $1 from $2 at H.C. Wainwright

H.C. Wainwright analyst Scott Buck lowered the firm’s price target on Elys Game Technology to $1 from $2 and keeps a Buy rating on the shares. The shares have declined 70% this week following the suspension of trading on the Nasdaq after failing to maintain the $1.00 minimum bid price requirement for an extended period of time, the analyst tells investors in a research note. The firm believes Elys “will find a much more limited pool of investors moving forward,”, though it acknowledges the company never had meaningful institutional ownership to begin with.