Headlands Technologies LLC Takes $1.34 Million Position in Sharplink Gaming Inc. $SBET

Headlands Technologies LLC bought a new position in Sharplink Gaming Inc. (NASDAQ:SBET) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 279,377 shares of the company’s stock, valued at approximately $1,341,000.

A number of other hedge funds also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Sharplink Gaming in the third quarter worth about $49,000. Empowered Funds LLC purchased a new position in Sharplink Gaming during the 4th quarter valued at $56,000. Independent Financial Group LLC bought a new position in Sharplink Gaming in the first quarter worth about $65,000. Koshinski Asset Management Inc. bought a new position in shares of Sharplink Gaming in the 1st quarter worth approximately $71,000. Finally, SummitTX Capital L.P. purchased a new position in Sharplink Gaming during the first quarter valued at $73,000. 13.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citizens Jmp cut their target price on Sharplink Gaming to $30.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 9th. Canaccord Genuity Group lowered their target price on shares of Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. Alliance Global Partners restated a “buy” rating on shares of Sharplink Gaming in a research note on Monday, May 11th. Citigroup restated a “market outperform” rating on shares of Sharplink Gaming in a research report on Thursday, August 13th. Finally, Weiss Ratings raised shares of Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.39.

Sharplink Gaming Price Performance

Shares of NASDAQ SBET opened at $8.63 on Tuesday. Sharplink Gaming Inc. has a 1-year low of $4.46 and a 1-year high of $19.53. The business has a fifty day moving average price of $6.23 and a 200 day moving average price of $6.57. The stock has a market capitalization of $1.87 billion, a P/E ratio of 172.60 and a beta of 10.48.

Sharplink Gaming (NASDAQ:SBET) last released its quarterly earnings results on Saturday, August 8th. The company reported ($1.88) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.89). Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. The business had revenue of $11.53 million during the quarter, compared to analysts’ expectations of $12.26 million. As a group, equities research analysts anticipate that Sharplink Gaming Inc. will post 0.09 earnings per share for the current fiscal year.

About Sharplink Gaming

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.