Sharplink Gaming Inc. (NASDAQ:SBET) Given Average Recommendation of “Moderate Buy” by Brokerages

Sharplink Gaming Inc. (NASDAQ:SBET) has received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $20.2333.

Several equities research analysts have recently weighed in on the company. Citizens Jmp decreased their price target on Sharplink Gaming to $30.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Weiss Ratings raised Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. HC Wainwright started coverage on Sharplink Gaming in a report on Tuesday, April 7th. They issued a “buy” rating and a $10.00 target price on the stock. Cantor Fitzgerald reduced their target price on Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Finally, Alliance Global Partners reissued a “buy” rating on shares of Sharplink Gaming in a research report on Monday, May 11th.

Sharplink Gaming Stock Up 0.8%

Shares of Sharplink Gaming stock opened at $6.32 on Thursday. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -10.53 and a beta of 10.45. Sharplink Gaming has a twelve month low of $4.46 and a twelve month high of $28.50. The company’s fifty day moving average is $5.68 and its 200 day moving average is $7.05.

Sharplink Gaming (NASDAQ:SBET) last announced its earnings results on Friday, May 8th. The company reported ($3.25) earnings per share (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 the consensus estimate of $14.60 million. Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.During the same period in the prior year, the business earned ($1.84) earnings per share. As a group, equities analysts anticipate that Sharplink Gaming will post 0.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Leslie Bernhard sold 12,892 shares of the business’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 transaction, the director 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Obie Mckenzie sold 12,892 shares of the business’s stock in a transaction on 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 position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 38,676 shares of company stock valued at $286,589. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC acquired a new stake in shares of Sharplink Gaming during the 4th quarter worth approximately $4,398,000. Highbridge Capital Management LLC lifted its position in shares of Sharplink Gaming by 5,947.5% during the 4th quarter. Highbridge Capital Management LLC now owns 512,764 shares of the company’s stock valued at $4,584,000 after acquiring an additional 504,285 shares during the period. Clear Street Group Inc. acquired a new position in shares of Sharplink Gaming during the 4th quarter valued at $5,253,000. Boundless Plain Holdings Ltd bought a new position in Sharplink Gaming during the fourth quarter worth $8,150,000. Finally, SG Americas Securities LLC boosted its stake in Sharplink Gaming by 332.9% during the first quarter. SG Americas Securities LLC now owns 758,022 shares of the company’s stock worth $4,889,000 after acquiring an additional 582,919 shares in the last quarter. 13.75% of the stock is owned by institutional investors.

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.