Brokerages Set Sharplink Gaming Inc. (NASDAQ:SBET) PT at $32.29

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $30.25.

SBET has been the subject of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of Sharplink Gaming in a report on Monday, January 5th. They issued an “overweight” rating and a $15.00 price objective for the company. Citizens Jmp started coverage on Sharplink Gaming in a research report on Thursday, October 16th. They issued a “mkt outperform” rating and a $50.00 price target for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research report on Thursday, January 22nd. Sanford C. Bernstein started coverage on Sharplink Gaming in a research note on Friday, October 31st. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, Zacks Research upgraded Sharplink Gaming to a “hold” rating in a report on Friday, October 17th.

Sharplink Gaming Stock Down 5.2%

Shares of NASDAQ SBET opened at $8.88 on Thursday. The firm has a 50-day simple moving average of $10.02 and a 200-day simple moving average of $14.85. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -3.72 and a beta of 11.12. Sharplink Gaming has a 52 week low of $2.26 and a 52 week high of $124.12.

Institutional Investors Weigh In On Sharplink Gaming

Several hedge funds and other institutional investors have recently bought and sold shares of SBET. Caitong International Asset Management Co. Ltd purchased a new position in Sharplink Gaming during the third quarter worth about $49,000. R Squared Ltd acquired a new stake in shares of Sharplink Gaming during the 4th quarter worth approximately $90,000. Abacus Planning Group Inc. purchased a new stake in shares of Sharplink Gaming during the 4th quarter valued at approximately $94,000. NewEdge Advisors LLC purchased a new stake in shares of Sharplink Gaming during the 2nd quarter valued at approximately $101,000. Finally, IFP Advisors Inc acquired a new position in Sharplink Gaming in the third quarter valued at approximately $102,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

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.