Hel Ved Capital Management Ltd Purchases New Position in Sharplink Gaming Inc. $SBET

Hel Ved Capital Management Ltd purchased a new stake in shares of Sharplink Gaming Inc. (NASDAQ:SBET) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 108,100 shares of the company’s stock, valued at approximately $966,000.

A number of other hedge funds also recently bought and sold shares of SBET. Vanguard Group Inc. purchased a new position in Sharplink Gaming during the 3rd quarter valued at about $46,447,000. Alyeska Investment Group L.P. purchased a new position in Sharplink Gaming during the 3rd quarter valued at about $42,509,000. Tidal Investments LLC purchased a new position in Sharplink Gaming during the 3rd quarter valued at about $30,283,000. Citigroup Inc. purchased a new position in Sharplink Gaming during the 3rd quarter valued at about $27,560,000. Finally, BNP Paribas Financial Markets purchased a new position in Sharplink Gaming during the 3rd quarter valued at about $25,084,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

Sharplink Gaming Stock Performance

SBET stock opened at $5.51 on Friday. Sharplink Gaming Inc. has a fifty-two week low of $5.06 and a fifty-two week high of $40.46. The business’s 50 day moving average price is $6.63 and its two-hundred day moving average price is $7.96. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -9.18 and a beta of 10.39.

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

Insiders Place Their Bets

In other Sharplink Gaming news, Director Robert M. Gutkowski sold 12,892 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total transaction of $95,529.72. Following the transaction, the director owned 24,998 shares in the company, valued at approximately $185,235.18. This represents a 34.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Obie Mckenzie sold 12,892 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total value of $95,529.72. Following the transaction, the director owned 24,998 shares in the company, valued at $185,235.18. This trade represents a 34.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 38,676 shares of company stock worth $286,589. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SBET. Citizens Jmp reduced their price target on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 11th. Weiss Ratings upgraded Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 target price on shares of Sharplink Gaming in a report on Tuesday, March 17th. B. Riley Financial reduced their target price on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Finally, HC Wainwright started coverage on Sharplink Gaming in a report on Tuesday, April 7th. They set a “buy” rating and a $10.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.11.

Sharplink Gaming 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.