Electric Capital Partners LLC Invests $894,000 in Sharplink Gaming Inc. $SBET

Electric Capital Partners LLC bought a new position in Sharplink Gaming Inc. (NASDAQ:SBET) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $894,000. Sharplink Gaming comprises 0.6% of Electric Capital Partners LLC’s holdings, making the stock its 4th biggest holding. Electric Capital Partners LLC owned approximately 0.05% of Sharplink Gaming as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sharplink Gaming in the third quarter worth about $49,000. IFP Advisors Inc purchased a new stake in shares of Sharplink Gaming in the third quarter worth about $102,000. Empowered Funds LLC purchased a new stake in shares of Sharplink Gaming in the fourth quarter worth about $56,000. Highbridge Capital Management LLC purchased a new stake in shares of Sharplink Gaming in the third quarter worth about $144,000. Finally, R Squared Ltd purchased a new stake in shares of Sharplink Gaming in the fourth quarter worth about $90,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on SBET shares. Wall Street Zen upgraded Sharplink Gaming from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. HC Wainwright began coverage on Sharplink Gaming in a research note on Tuesday, April 7th. They issued a “buy” rating and a $10.00 target price on the stock. B. Riley Financial lowered their price target on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Citizens Jmp lowered their price target on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 11th. Finally, Cantor Fitzgerald upgraded Sharplink Gaming to a “strong-buy” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.11.

Insiders Place Their Bets

In other Sharplink Gaming news, Director Obie Mckenzie sold 12,892 shares of the 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 completion of the transaction, the director owned 24,998 shares of the company’s stock, valued at $185,235.18. This represents a 34.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leslie Bernhard sold 12,892 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total value of $95,529.72. Following the completion of the transaction, the director owned 24,998 shares in the company, valued at approximately $185,235.18. This trade represents a 34.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 38,676 shares of company stock worth $286,589. 3.60% of the stock is owned by corporate insiders.

Sharplink Gaming Trading Up 1.5%

Shares of SBET stock opened at $5.51 on Friday. The company has a market capitalization of $1.09 billion, a P/E ratio of -9.18 and a beta of 10.39. The business’s 50 day moving average is $6.63 and its two-hundred day moving average is $7.96. Sharplink Gaming Inc. has a 12-month low of $5.06 and a 12-month high of $40.46.

Sharplink Gaming (NASDAQ:SBET) last issued its quarterly earnings results on Friday, May 8th. The company reported ($3.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). The business had revenue of $12.06 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted ($1.84) EPS. On average, research analysts predict that Sharplink Gaming Inc. will post 0.15 earnings per share for the current fiscal 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.