Sharplink Gaming (NASDAQ:SBET) Shares Gap Up – Here’s What Happened

Sharplink Gaming Inc. (NASDAQ:SBET) gapped up prior to trading on Friday . The stock had previously closed at $6.07, but opened at $6.52. Sharplink Gaming shares last traded at $6.9150, with a volume of 3,868,720 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. B. Riley lowered their price target on Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Citizens Jmp assumed coverage on Sharplink Gaming in a research note on Thursday, October 16th. They issued a “mkt outperform” rating and a $50.00 target price for the company. Industrial Alliance Securities set a $20.00 target price on Sharplink Gaming in a research report on Wednesday, January 7th. Zacks Research raised shares of Sharplink Gaming to a “hold” rating in a report on Friday, October 17th. Finally, Sanford C. Bernstein started coverage on shares of Sharplink Gaming in a report on Friday, October 31st. They set an “outperform” rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.25.

Sharplink Gaming Price Performance

The company has a market cap of $1.39 billion, a P/E ratio of -2.95 and a beta of 11.28. The business’s 50 day moving average price is $9.78 and its 200-day moving average price is $14.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBET. Caitong International Asset Management Co. Ltd bought a new stake in Sharplink Gaming during the 3rd quarter worth about $49,000. R Squared Ltd acquired a new stake in shares of Sharplink Gaming in the 4th quarter valued at $90,000. Abacus Planning Group Inc. acquired a new stake in Sharplink Gaming in the fourth quarter worth about $94,000. NewEdge Advisors LLC acquired a new position in Sharplink Gaming during the 2nd quarter valued at about $101,000. Finally, IFP Advisors Inc bought a new position in shares of Sharplink Gaming in the 3rd quarter valued at about $102,000. 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. 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.