Sharplink Gaming Inc. (NASDAQ:SBET) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Sharplink Gaming Inc. (NASDAQ:SBET) has received an average rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $32.2857.

Several brokerages recently issued reports on SBET. Cantor Fitzgerald started coverage on shares of Sharplink Gaming in a research report on Monday, January 5th. They set an “overweight” rating and a $15.00 price target on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a report on Wednesday, October 8th. Sanford C. Bernstein began coverage on Sharplink Gaming in a research report on Friday, October 31st. They issued an “outperform” rating and a $24.00 target price for the company. Industrial Alliance Securities set a $20.00 target price on Sharplink Gaming in a research note on Wednesday. Finally, B. Riley reduced their price target on Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th.

Sharplink Gaming Trading Down 2.5%

Shares of NASDAQ SBET opened at $10.02 on Friday. Sharplink Gaming has a 12 month low of $2.26 and a 12 month high of $124.12. The firm has a market capitalization of $1.97 billion, a PE ratio of -4.19 and a beta of 11.12. The firm has a fifty day simple moving average of $10.32 and a two-hundred day simple moving average of $15.37.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Marshall Wace LLP purchased a new stake in Sharplink Gaming in the second quarter worth about $26,852,000. XTX Topco Ltd lifted its holdings in shares of Sharplink Gaming by 509.9% during the second quarter. XTX Topco Ltd now owns 110,270 shares of the company’s stock valued at $1,095,000 after purchasing an additional 92,189 shares during the last quarter. Thames Capital Management LLC bought a new stake in shares of Sharplink Gaming in the 2nd quarter worth approximately $1,566,000. Collar Capital Management LLC purchased a new stake in shares of Sharplink Gaming in the 3rd quarter worth approximately $1,702,000. Finally, Cresset Asset Management LLC purchased a new stake in shares of Sharplink Gaming in the 3rd quarter worth approximately $2,400,000. 13.75% of the stock is currently owned by institutional investors.

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. It operates a performance marketing platform, which owns and operates state-specific web domains to attract, acquire, and drive local sports betting and casino traffic directly to the company's sportsbook and casino partners, which are licensed to operate in each respective state; and offers sports betting data to sports media publishers.