Robert Gutkowski Sells 12,892 Shares of Sharplink Gaming (NASDAQ:SBET) Stock

Sharplink Gaming Inc. (NASDAQ:SBET) Director Robert Gutkowski sold 12,892 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total value of $95,529.72. Following the sale, the director directly owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. This represents a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sharplink Gaming Stock Down 9.2%

SBET opened at $6.72 on Friday. The business has a 50 day moving average price of $7.19 and a two-hundred day moving average price of $8.78. The company has a market cap of $1.33 billion, a PE ratio of -11.20 and a beta of 10.69. Sharplink Gaming Inc. has a 52 week low of $2.58 and a 52 week high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly earnings data on Friday, May 8th. The company reported ($3.25) EPS for the quarter, missing the consensus estimate of ($0.62) by ($2.63). The company had revenue of $12.06 million for the quarter, compared to analysts’ expectations of $14.60 million. Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. During the same period in the prior year, the company earned ($1.84) earnings per share. As a group, sell-side analysts expect that Sharplink Gaming Inc. will post 0.15 EPS for the current fiscal year.

Institutional Trading of Sharplink Gaming

Several hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. lifted its holdings in shares of Sharplink Gaming by 70.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,268,673 shares of the company’s stock valued at $38,162,000 after buying an additional 1,769,589 shares during the period. Weiss Asset Management LP increased its stake in Sharplink Gaming by 19.1% in the 1st quarter. Weiss Asset Management LP now owns 3,042,548 shares of the company’s stock valued at $19,624,000 after purchasing an additional 488,247 shares in the last quarter. Invesco Ltd. increased its stake in Sharplink Gaming by 165.9% in the 4th quarter. Invesco Ltd. now owns 2,734,052 shares of the company’s stock valued at $24,442,000 after purchasing an additional 1,706,011 shares in the last quarter. Vanguard Group Inc. purchased a new position in Sharplink Gaming in the 3rd quarter valued at approximately $46,447,000. Finally, Voloridge Investment Management LLC increased its stake in Sharplink Gaming by 344.4% in the 4th quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company’s stock valued at $24,240,000 after purchasing an additional 2,101,252 shares in the last quarter. 13.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SBET shares. Alliance Global Partners reissued a “buy” rating on shares of Sharplink Gaming in a research note on Monday, May 11th. Wall Street Zen raised Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 price target on shares of Sharplink Gaming in a report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. Finally, Citizens Jmp reduced their price target on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating for the company in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.11.

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.