Short Interest in SharpLink Gaming, Inc. (NASDAQ:SBET) Grows By 2,029.4%

SharpLink Gaming, Inc. (NASDAQ:SBET) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 434,400 shares, a growth of 2,029.4% from the May 15th total of 20,400 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 1,970,000 shares, the short-interest ratio is presently 0.2 days.

Insider Buying and Selling at SharpLink Gaming

In other SharpLink Gaming news, CFO Robert Michael Delucia bought 7,440 shares of the company’s stock in a transaction on Friday, May 30th. The stock was bought at an average price of $6.72 per share, for a total transaction of $49,996.80. Following the transaction, the chief financial officer now owns 14,107 shares of the company’s stock, valued at approximately $94,799.04. The trade was a 111.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rob Phythian purchased 44,640 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was purchased at an average cost of $6.72 per share, with a total value of $299,980.80. Following the acquisition, the chief executive officer now directly owns 57,349 shares in the company, valued at $385,385.28. This trade represents a 351.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On SharpLink Gaming

An institutional investor recently bought a new position in SharpLink Gaming stock. Tallon Kerry Patrick bought a new position in SharpLink Gaming, Inc. (NASDAQ:SBET) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 42,663 shares of the company’s stock, valued at approximately $29,000. Tallon Kerry Patrick owned 1.19% of SharpLink Gaming at the end of the most recent quarter. 13.75% of the stock is owned by institutional investors.

SharpLink Gaming Price Performance

Shares of SBET stock opened at $37.07 on Thursday. SharpLink Gaming has a 12-month low of $2.26 and a 12-month high of $124.12. The firm has a fifty day moving average of $13.88 and a 200-day moving average of $8.85.

SharpLink Gaming (NASDAQ:SBET) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($1.73) earnings per share (EPS) for the quarter. The firm had revenue of $0.74 million for the quarter.

SharpLink Gaming Company Profile

SharpLink Gaming, Inc operates as an online technology company that connects sports fans, leagues, and sports websites to sports betting and iGaming content. The company operates through four segments: Affiliate Marketing Services United States, Affiliate Marketing Services International, Sports Gaming Client Services, and SportsHub Games Network.