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

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have earned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $22.1111.

A number of research analysts have commented on the company. Citizens Jmp reduced their target price 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. Wall Street Zen downgraded Sharplink Gaming from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. Alliance Global Partners reaffirmed a “buy” rating on shares of Sharplink Gaming in a report on Monday, May 11th. Cantor Fitzgerald raised Sharplink Gaming to a “strong-buy” rating in a report on Thursday, April 9th. Finally, Weiss Ratings downgraded Sharplink Gaming from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 16th.

Sharplink Gaming Stock Performance

SBET stock opened at $4.81 on Friday. Sharplink Gaming has a 1 year low of $4.46 and a 1 year high of $40.46. The firm has a market cap of $973.45 million, a P/E ratio of -8.02 and a beta of 10.39. The stock has a 50-day simple moving average of $6.35 and a 200-day simple moving average of $7.60.

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

Insider Buying and Selling

In related news, Director Leslie Bernhard sold 12,892 shares of the firm’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 sale, the director directly owned 24,998 shares in the company, valued at $185,235.18. This trade represents a 34.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert M. Gutkowski sold 12,892 shares of Sharplink Gaming stock in a transaction 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 transaction, the director owned 24,998 shares in the company, valued at approximately $185,235.18. This trade represents a 34.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 38,676 shares of company stock valued at $286,589. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Sharplink Gaming

A number of hedge funds have recently modified their holdings of SBET. DV Trading LLC acquired a new stake in shares of Sharplink Gaming in the first quarter worth $239,000. J. Derek Lewis & Associates Inc. boosted its position in shares of Sharplink Gaming by 112.4% in the first quarter. J. Derek Lewis & Associates Inc. now owns 103,000 shares of the company’s stock worth $664,000 after buying an additional 54,500 shares during the period. Bank of America Corp DE boosted its position in shares of Sharplink Gaming by 56.6% in the first quarter. Bank of America Corp DE now owns 1,275,442 shares of the company’s stock worth $8,227,000 after buying an additional 460,991 shares during the period. SummitTX Capital L.P. acquired a new stake in shares of Sharplink Gaming in the first quarter worth $73,000. Finally, Weiss Asset Management LP boosted its position in shares of Sharplink Gaming by 19.1% in the first quarter. Weiss Asset Management LP now owns 3,042,548 shares of the company’s stock worth $19,624,000 after buying an additional 488,247 shares during the period. 13.75% of the stock is currently owned by institutional investors and hedge funds.

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.