Sharplink Gaming Inc. (NASDAQ:SBET) Receives Average Rating of “Moderate Buy” from Analysts

Sharplink Gaming Inc. (NASDAQ:SBET) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $20.2333.

Several equities research analysts have recently commented on SBET shares. TD Cowen assumed coverage on Sharplink Gaming in a report on Friday, April 10th. They set a “buy” rating and a $16.00 price objective for the company. Cantor Fitzgerald cut their target price on Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Citigroup reissued a “market outperform” rating on shares of Sharplink Gaming in a research report on Thursday, July 9th. Alliance Global Partners restated a “buy” rating on shares of Sharplink Gaming in a research note on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th.

Insider Activity

In related news, Director Robert M. Gutkowski sold 12,892 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total value of $95,529.72. Following the transaction, the director owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. This trade represents a 34.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Obie Mckenzie sold 12,892 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total transaction of $95,529.72. Following the completion of the transaction, the director directly owned 24,998 shares in the company, valued at approximately $185,235.18. The trade was a 34.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 38,676 shares of company stock worth $286,589 over the last three months. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Sharplink Gaming

Several institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of Sharplink Gaming in the third quarter valued at approximately $49,000. IFP Advisors Inc bought a new stake in Sharplink Gaming during the third quarter worth $102,000. Empowered Funds LLC bought a new stake in Sharplink Gaming during the fourth quarter worth $56,000. Independent Financial Group LLC bought a new stake in Sharplink Gaming during the first quarter worth $65,000. Finally, R Squared Ltd purchased a new stake in Sharplink Gaming in the 4th quarter valued at $90,000. 13.75% of the stock is owned by hedge funds and other institutional investors.

Sharplink Gaming Price Performance

Shares of Sharplink Gaming stock opened at $6.32 on Thursday. Sharplink Gaming has a one year low of $4.46 and a one year high of $28.50. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -10.53 and a beta of 10.45. The business has a 50-day simple moving average of $5.68 and a 200 day simple moving average of $7.05.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly 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). The firm had revenue of $12.06 million for the quarter, compared to analyst estimates of $14.60 million. Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.During the same period last year, the company posted ($1.84) earnings per share. On average, sell-side analysts expect that Sharplink Gaming will post 0.11 EPS for the current year.

About Sharplink Gaming

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.