Sharplink Gaming Inc. (NASDAQ:SBET) Receives $22.11 Average PT from Analysts

Sharplink Gaming Inc. (NASDAQ:SBET) has earned an average rating of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $22.1111.

Several research firms recently weighed in on SBET. HC Wainwright began coverage on shares of Sharplink Gaming in a report on Tuesday, April 7th. They set a “buy” rating and a $10.00 price target on the stock. B. Riley Financial cut their price target on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Weiss Ratings upgraded shares of Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, TD Cowen began coverage on shares of Sharplink Gaming in a report on Friday, April 10th. They set a “buy” rating and a $16.00 price target on the stock.

Insider Buying and Selling at Sharplink Gaming

In other Sharplink Gaming news, Director Robert M. Gutkowski sold 12,892 shares of the business’s stock in a transaction dated 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 directly owned 24,998 shares in the company, valued at $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leslie Bernhard sold 12,892 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total transaction of $95,529.72. Following the completion of the transaction, the director owned 24,998 shares in the company, valued at approximately $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 38,676 shares of company stock worth $286,589 over the last three months. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBET. JPMorgan Chase & Co. purchased a new position in Sharplink Gaming in the second quarter valued at about $3,229,000. Qube Research & Technologies Ltd purchased a new position in Sharplink Gaming in the second quarter valued at about $151,000. NewEdge Advisors LLC purchased a new position in Sharplink Gaming in the second quarter valued at about $101,000. HUB Investment Partners LLC purchased a new position in Sharplink Gaming in the second quarter valued at about $298,000. Finally, Anatole Investment Management Ltd purchased a new position in Sharplink Gaming in the second quarter valued at about $6,332,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

Sharplink Gaming Stock Performance

Sharplink Gaming stock opened at $5.32 on Wednesday. Sharplink Gaming has a fifty-two week low of $5.06 and a fifty-two week high of $49.52. The stock has a market cap of $1.05 billion, a PE ratio of -8.87 and a beta of 10.39. The firm’s 50-day simple moving average is $6.68 and its 200 day simple moving average is $8.04.

Sharplink Gaming (NASDAQ:SBET) last released its quarterly earnings results on Friday, May 8th. The company reported ($3.25) earnings per share for the quarter, missing the consensus estimate 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 firm posted ($1.84) earnings per share. As a group, analysts predict that Sharplink Gaming will post 0.15 EPS for the current fiscal year.

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.