Sharplink Gaming (NASDAQ:SBET) Trading 7.5% Higher – What’s Next?

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

Analysts Set New Price Targets

A number of research firms recently issued reports on SBET. Zacks Research raised Sharplink Gaming to a “hold” rating in a report on Friday, October 17th. Citizens Jmp initiated coverage on Sharplink Gaming in a research note on Thursday, October 16th. They set a “mkt outperform” rating and a $50.00 price target for the company. B. Riley lowered their price objective on shares of Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research report on Wednesday, October 8th. Finally, Alliance Global Partners began coverage on shares of Sharplink Gaming in a research note on Tuesday, August 26th. They issued a “buy” rating and a $48.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sharplink Gaming has an average rating of “Moderate Buy” and an average price target of $38.20.

Sharplink Gaming Price Performance

The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -4.92 and a beta of 10.98. The stock’s 50-day moving average is $13.05 and its 200-day moving average is $18.72.

Institutional Trading of Sharplink Gaming

A number of institutional investors and hedge funds have recently made changes to their positions in SBET. IFP Advisors Inc purchased a new position in shares of Sharplink Gaming in the 3rd quarter worth about $102,000. Campbell Capital Management Inc. acquired a new stake in Sharplink Gaming during the 3rd quarter worth approximately $191,000. Caitong International Asset Management Co. Ltd purchased a new position in Sharplink Gaming in the third quarter valued at approximately $49,000. NewEdge Advisors LLC raised its holdings in Sharplink Gaming by 103.7% in the third quarter. NewEdge Advisors LLC now owns 20,780 shares of the company’s stock valued at $353,000 after buying an additional 10,578 shares during the period. Finally, Meteora Capital LLC acquired a new position in Sharplink Gaming during the third quarter valued at approximately $204,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

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.