Sharplink Gaming (NASDAQ:SBET) Raised to Sell at Wall Street Zen

Sharplink Gaming (NASDAQ:SBET) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Other analysts also recently issued research reports about the company. Weiss Ratings raised Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Citigroup reissued a “market outperform” rating on shares of Sharplink Gaming in a research note on Thursday, August 13th. Cantor Fitzgerald lowered their price target on Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Alliance Global Partners reaffirmed a “buy” rating on shares of Sharplink Gaming in a research report on Monday, May 11th. Finally, TD Cowen reiterated a “buy” rating and set a $13.00 price objective (down from $16.00) on shares of Sharplink Gaming in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.39.

Sharplink Gaming Stock Performance

Shares of NASDAQ:SBET opened at $8.63 on Friday. Sharplink Gaming has a 52 week low of $4.46 and a 52 week high of $19.53. The company has a market capitalization of $1.87 billion, a PE ratio of 172.60 and a beta of 10.48. The company has a 50 day moving average price of $6.23 and a two-hundred day moving average price of $6.57.

Sharplink Gaming (NASDAQ:SBET) last posted its earnings results on Saturday, August 8th. The company reported ($1.88) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($1.89). Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%.The firm had revenue of $11.53 million during the quarter, compared to analyst estimates of $12.26 million. On average, sell-side analysts forecast that Sharplink Gaming will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On Sharplink Gaming

A number of large investors have recently added to or reduced their stakes in SBET. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sharplink Gaming in the 3rd quarter valued at about $49,000. Empowered Funds LLC bought a new position in shares of Sharplink Gaming during the fourth quarter worth about $56,000. Independent Financial Group LLC bought a new position in shares of Sharplink Gaming during the first quarter worth about $65,000. Ameritas Advisory Services LLC acquired a new stake in Sharplink Gaming in the 2nd quarter valued at approximately $66,000. Finally, Koshinski Asset Management Inc. acquired a new stake in Sharplink Gaming in the 1st quarter valued at approximately $71,000. Institutional investors 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.