Sharplink Gaming (NASDAQ:SBET) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Sharplink Gaming (NASDAQ:SBET) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The firm issued a strong-buy rating and a $16.00 price target on the stock.

Several other research firms have also commented on SBET. Industrial Alliance Securities set a $20.00 price target on shares of Sharplink Gaming in a report on Wednesday, January 7th. Cantor Fitzgerald assumed coverage on Sharplink Gaming in a research note on Monday, January 5th. They issued an “overweight” rating and a $15.00 target price for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. Citizens Jmp began coverage on Sharplink Gaming in a report on Thursday, October 16th. They issued a “mkt outperform” rating and a $50.00 price target on the stock. Finally, Sanford C. Bernstein initiated coverage on Sharplink Gaming in a research note on Friday, October 31st. They set an “outperform” rating and a $24.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.25.

Sharplink Gaming Trading Down 6.0%

SBET stock opened at $9.37 on Thursday. The stock’s 50 day simple moving average is $10.03 and its 200 day simple moving average is $15.05. Sharplink Gaming has a 12-month low of $2.26 and a 12-month high of $124.12. The firm has a market cap of $1.84 billion, a P/E ratio of -3.92 and a beta of 11.12.

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 acquired a new stake in Sharplink Gaming in the 3rd quarter valued at about $49,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sharplink Gaming by 23.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,600 shares of the company’s stock worth $139,000 after purchasing an additional 2,946 shares in the last quarter. 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 stake in Sharplink Gaming during the third quarter worth approximately $103,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of Sharplink Gaming during the 3rd quarter worth $144,000. 13.75% of the stock is currently owned by institutional investors.

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.