Sharplink Gaming (NASDAQ:SBET) Director Obie Mckenzie Sells 12,892 Shares

Sharplink Gaming Inc. (NASDAQ:SBET) Director Obie Mckenzie sold 12,892 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total transaction of $95,529.72. Following the sale, the director owned 24,998 shares of the company’s stock, valued at $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Sharplink Gaming Price Performance

Sharplink Gaming stock opened at $7.40 on Friday. The firm’s 50 day simple moving average is $7.22 and its 200-day simple moving average is $8.79. Sharplink Gaming Inc. has a fifty-two week low of $2.58 and a fifty-two week high of $124.12. The company has a market cap of $1.46 billion, a P/E ratio of -12.33 and a beta of 10.69.

Sharplink Gaming (NASDAQ:SBET) last issued its earnings results on Friday, May 8th. The company reported ($3.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. The business had revenue of $12.06 million during the quarter, compared to analyst estimates of $14.60 million. During the same quarter in the prior year, the company earned ($1.84) EPS. On average, analysts expect that Sharplink Gaming Inc. will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SBET shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of Sharplink Gaming in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. Cantor Fitzgerald raised Sharplink Gaming to a “strong-buy” rating in a report on Thursday, April 9th. TD Cowen assumed coverage on Sharplink Gaming in a report on Friday, April 10th. They set a “buy” rating and a $16.00 price target for the company. Finally, B. Riley Financial cut their price objective on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sharplink Gaming currently has an average rating of “Moderate Buy” and a consensus price target of $22.11.

Hedge Funds Weigh In On Sharplink Gaming

A number of institutional investors have recently modified their holdings of SBET. APEIRON CAPITAL Ltd bought a new position in Sharplink Gaming in the 3rd quarter worth approximately $23,038,000. Wolverine Asset Management LLC bought a new position in Sharplink Gaming in the 4th quarter valued at $4,398,000. CloudAlpha Capital Management Limited Hong Kong bought a new position in Sharplink Gaming in the 3rd quarter valued at $30,812,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Sharplink Gaming in the 3rd quarter valued at $2,190,000. Finally, BIT Capital GmbH raised its position in shares of Sharplink Gaming by 103.5% during the third quarter. BIT Capital GmbH now owns 1,215,819 shares of the company’s stock worth $20,681,000 after acquiring an additional 618,508 shares during the last quarter. 13.75% of the stock is 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.