Sharplink Gaming (NASDAQ:SBET) Trading Up 7.5% – Should You Buy?

Sharplink Gaming Inc. (NASDAQ:SBET) rose 7.5% on Tuesday . The stock traded as high as $12.08 and last traded at $11.8860. Approximately 7,003,429 shares changed hands during trading, a decline of 54% from the average daily volume of 15,121,669 shares. The stock had previously closed at $11.06.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Alliance Global Partners started coverage on Sharplink Gaming in a research note on Tuesday, August 26th. They set a “buy” rating and a $48.00 target price for the company. B. Riley reduced their price objective on shares of Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Weiss Ratings restated a “sell (d)” rating on shares of Sharplink Gaming in a report on Wednesday, October 8th. Zacks Research upgraded shares of Sharplink Gaming to a “hold” rating in a research note on Friday, October 17th. Finally, Sanford C. Bernstein began coverage on shares of Sharplink Gaming in a research report on Friday, October 31st. They issued an “outperform” rating and a $24.00 price target for the company. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Sharplink Gaming Trading Down 4.1%

The stock has a market cap of $2.27 billion, a PE ratio of -4.82 and a beta of 10.98. The business has a 50 day moving average of $12.70 and a 200-day moving average of $18.66.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sharplink Gaming in the 3rd quarter valued at about $49,000. NewEdge Advisors LLC bought a new stake in Sharplink Gaming in the second quarter valued at about $101,000. IFP Advisors Inc acquired a new stake in Sharplink Gaming during the third quarter valued at approximately $102,000. Global Retirement Partners LLC bought a new position in Sharplink Gaming during the 3rd quarter worth approximately $103,000. Finally, Highbridge Capital Management LLC bought a new position in Sharplink Gaming during the 3rd quarter worth approximately $144,000. Institutional investors and hedge funds 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.