Sharplink Gaming (NASDAQ:SBET) Director Obie Mckenzie Sells 12,892 Shares

Sharplink Gaming Inc. (NASDAQ:SBET) Director Obie Mckenzie sold 12,892 shares of the firm’s stock in a transaction that occurred 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 directly owned 24,998 shares of the company’s stock, valued at $185,235.18. This represents a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Sharplink Gaming Price Performance

Shares of SBET stock opened at $7.40 on Friday. The business’s fifty day moving average price is $7.22 and its 200 day moving average price is $8.79. The firm has a market capitalization of $1.46 billion, a PE ratio of -12.33 and a beta of 10.69. Sharplink Gaming Inc. has a 1-year low of $2.58 and a 1-year high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last issued its 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 company 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. Equities research analysts expect that Sharplink Gaming Inc. will post 0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SBET has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research report on Thursday, January 22nd. TD Cowen started coverage on Sharplink Gaming in a research note on Friday, April 10th. They set a “buy” rating and a $16.00 price target for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 target price on shares of Sharplink Gaming in a research note on Tuesday, March 17th. B. Riley Financial decreased their price target on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Finally, Alliance Global Partners restated a “buy” rating on shares of Sharplink Gaming in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.11.

Hedge Funds Weigh In On Sharplink Gaming

Several institutional investors have recently modified their holdings of SBET. JPMorgan Chase & Co. bought a new stake in Sharplink Gaming in the 2nd quarter valued at about $3,229,000. Qube Research & Technologies Ltd acquired a new stake in shares of Sharplink Gaming in the second quarter valued at approximately $151,000. NewEdge Advisors LLC bought a new stake in shares of Sharplink Gaming during the second quarter valued at approximately $101,000. HUB Investment Partners LLC bought a new stake in shares of Sharplink Gaming during the second quarter valued at approximately $298,000. Finally, Anatole Investment Management Ltd acquired a new position in Sharplink Gaming during the 2nd quarter worth $6,332,000. 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.