HC Wainwright Begins Coverage on Sharplink Gaming (NASDAQ:SBET)

Stock analysts at HC Wainwright initiated coverage on shares of Sharplink Gaming (NASDAQ:SBET) in a report released on Tuesday,Benzinga reports. The firm set a “buy” rating and a $10.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 56.74% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. B. Riley Financial decreased their price target on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Wall Street Zen upgraded shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Citizens Jmp decreased their price target on shares of Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 11th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price target on shares of Sharplink Gaming in a report on Tuesday, March 17th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.88.

Sharplink Gaming Stock Performance

Shares of NASDAQ SBET opened at $6.38 on Tuesday. Sharplink Gaming has a 1 year low of $2.26 and a 1 year high of $124.12. The firm’s 50 day moving average price is $7.26 and its 200 day moving average price is $10.44. The firm has a market cap of $1.26 billion, a P/E ratio of -2.67 and a beta of 11.31.

Sharplink Gaming (NASDAQ:SBET) last announced its earnings results on Friday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. Sharplink Gaming had a negative net margin of 2,618.38% and a negative return on equity of 50.72%. The firm had revenue of $13.31 million for the quarter, compared to analyst estimates of $17.19 million.

Hedge Funds Weigh In On Sharplink Gaming

Hedge funds and other institutional investors have recently made changes to their positions in the business. APEIRON CAPITAL Ltd acquired a new position in shares of Sharplink Gaming during the 3rd quarter valued at $23,038,000. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Sharplink Gaming during the 3rd quarter valued at $30,812,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Sharplink Gaming during the 3rd quarter valued at $2,190,000. BIT Capital GmbH lifted its holdings in shares of Sharplink Gaming by 103.5% during the 3rd quarter. BIT Capital GmbH now owns 1,215,819 shares of the company’s stock valued at $20,681,000 after acquiring an additional 618,508 shares in the last quarter. Finally, MMCAP International Inc. SPC acquired a new position in shares of Sharplink Gaming during the 3rd quarter valued at $8,483,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

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.