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

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have received a consensus rating of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $21.3444.

SBET has been the topic of several research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 price target on shares of Sharplink Gaming in a research note on Tuesday, March 17th. TD Cowen started coverage on shares of Sharplink Gaming in a research note on Friday, April 10th. They set a “buy” rating and a $16.00 price objective for the company. Alliance Global Partners reiterated a “buy” rating on shares of Sharplink Gaming in a report on Monday, May 11th. Citizens Jmp decreased their target price on shares of Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 11th. Finally, Weiss Ratings lowered Sharplink Gaming from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 16th.

Sharplink Gaming Price Performance

NASDAQ SBET opened at $5.31 on Friday. The company has a market cap of $1.07 billion, a PE ratio of -8.85 and a beta of 10.45. The stock’s 50 day simple moving average is $6.13 and its 200-day simple moving average is $7.40. Sharplink Gaming has a 1-year low of $4.46 and a 1-year high of $40.46.

Sharplink Gaming (NASDAQ:SBET) last issued its quarterly earnings results on Friday, May 8th. The company reported ($3.25) EPS 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 in the previous year, the firm posted ($1.84) earnings per share. On average, equities research analysts anticipate that Sharplink Gaming will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Sharplink Gaming news, Director Robert M. Gutkowski sold 12,892 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Leslie Bernhard sold 12,892 shares of the company’s 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 completion of the sale, the director owned 24,998 shares of the company’s stock, 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. Over the last 90 days, insiders have sold 38,676 shares of company stock worth $286,589. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sharplink Gaming

A number of hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in Sharplink Gaming during the third quarter worth about $49,000. Empowered Funds LLC acquired a new stake in shares of Sharplink Gaming during the 4th quarter worth approximately $56,000. Independent Financial Group LLC purchased a new stake in shares of Sharplink Gaming during the 1st quarter valued at approximately $65,000. Koshinski Asset Management Inc. acquired a new position in Sharplink Gaming in the first quarter valued at approximately $71,000. Finally, SummitTX Capital L.P. purchased a new position in Sharplink Gaming in the first quarter worth approximately $73,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

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.