Sharplink Gaming (NASDAQ:SBET) Stock Sees Heavy Call Option Buying

Sharplink Gaming Inc. (NASDAQ:SBET) was the recipient of some unusual options trading activity on Monday. Stock investors acquired 30,735 call options on the company. This represents an increase of approximately 44% compared to the average volume of 21,328 call options.

Insider Buying and Selling at Sharplink Gaming

In other news, Director Joseph Lubin sold 5,676,952 shares of the company’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $8.39, for a total transaction of $47,629,627.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.60% of the company’s stock.

Institutional Trading of Sharplink Gaming

Several hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. increased its stake in shares of Sharplink Gaming by 70.7% in the third quarter. SBI Securities Co. Ltd. now owns 3,462 shares of the company’s stock worth $32,000 after purchasing an additional 1,434 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Sharplink Gaming by 355.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,116 shares of the company’s stock valued at $57,000 after buying an additional 4,774 shares in the last quarter. Independent Financial Group LLC purchased a new stake in shares of Sharplink Gaming during the 1st quarter valued at approximately $65,000. Galvin Gaustad & Stein LLC purchased a new stake in shares of Sharplink Gaming during the 3rd quarter valued at approximately $102,000. Finally, SummitTX Capital L.P. bought a new position in Sharplink Gaming in the 1st quarter worth approximately $73,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

Wall Street Analyst Weigh In

SBET has been the subject of a number of recent analyst reports. B. Riley Financial reissued a “buy” rating and set a $14.00 target price (up from $12.00) on shares of Sharplink Gaming in a research report on Tuesday, September 22nd. Canaccord Genuity Group dropped their price target on shares of Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sharplink Gaming in a research note on Friday, October 2nd. Citigroup reiterated a “market outperform” rating on shares of Sharplink Gaming in a research report on Thursday, August 13th. Finally, TD Cowen reissued a “buy” rating and set a $13.00 target price (down from $16.00) on shares of Sharplink Gaming in a research note on Friday, July 31st. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Sharplink Gaming Stock Down 1.2%

SBET traded down $0.07 during midday trading on Monday, hitting $6.17. The company had a trading volume of 12,554,337 shares, compared to its average volume of 8,274,181. The stock’s 50 day moving average price is $8.39 and its 200 day moving average price is $7.16. Sharplink Gaming has a 52 week low of $4.46 and a 52 week high of $12.58. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 123.10 and a beta of 11.23.

Sharplink Gaming (NASDAQ:SBET) last released its quarterly earnings data on Friday, November 6th. The company reported $3.45 earnings per share (EPS) for the quarter. Sharplink Gaming had a negative net margin of 2,012.44% and a negative return on equity of 38.70%. The company had revenue of $13.46 million for the quarter, compared to analysts’ expectations of $10.51 million. Research analysts predict that Sharplink Gaming will post 0.12 EPS for the current year.

About Sharplink Gaming

SharpLink Gaming Ltd. is a technology and performance-marketing company serving the online sports betting and iGaming industries. The company provides customer-acquisition solutions designed to connect sports fans and gaming audiences with licensed betting and gaming operators through digital marketing, affiliate partnerships and related technology.

SharpLink’s activities have historically focused on the United States and other regulated online gaming markets, where it has supported operators with player acquisition, engagement and retention initiatives.