Sharplink Gaming (NASDAQ:SBET) Price Target Lowered to $19.00 at B. Riley

Sharplink Gaming (NASDAQ:SBET) had its target price lowered by equities researchers at B. Riley from $32.00 to $19.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s target price would indicate a potential upside of 76.86% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of Sharplink Gaming to a “hold” rating in a research report on Friday, October 17th. Alliance Global Partners began coverage on Sharplink Gaming in a research report on Tuesday, August 26th. They set a “buy” rating and a $48.00 price objective on the stock. Citizens Jmp began coverage on Sharplink Gaming in a report on Thursday, October 16th. They set a “mkt outperform” rating and a $50.00 target price on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Sharplink Gaming in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein initiated coverage on Sharplink Gaming in a research report on Friday, October 31st. They set an “outperform” rating and a $24.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Sharplink Gaming Price Performance

Sharplink Gaming stock traded up $0.45 during mid-day trading on Tuesday, reaching $10.74. 5,302,167 shares of the company traded hands, compared to its average volume of 15,470,857. Sharplink Gaming has a 52-week low of $2.26 and a 52-week high of $124.12. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -2.13 and a beta of 9.98. The firm’s 50 day moving average price is $15.04 and its 200 day moving average price is $18.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SBET. NewEdge Advisors LLC bought a new stake in Sharplink Gaming in the second quarter worth $101,000. Global Retirement Partners LLC purchased a new position in Sharplink Gaming in the third quarter worth about $103,000. Highbridge Capital Management LLC purchased a new position in Sharplink Gaming in the third quarter worth about $144,000. Qube Research & Technologies Ltd bought a new position in shares of Sharplink Gaming in the second quarter worth approximately $151,000. Finally, PFG Investments LLC bought a new position in shares of Sharplink Gaming in the third quarter worth approximately $171,000. 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.