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

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $32.2857.

A number of research firms recently issued reports on SBET. B. Riley reduced their target price on Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Industrial Alliance Securities set a $20.00 price objective on Sharplink Gaming in a research report on Wednesday. Zacks Research upgraded shares of Sharplink Gaming to a “hold” rating in a report on Friday, October 17th. JMP Securities initiated coverage on shares of Sharplink Gaming in a research note on Thursday, October 16th. They set a “market outperform” rating and a $50.00 price target on the stock. Finally, Cantor Fitzgerald began coverage on shares of Sharplink Gaming in a research report on Monday. They issued an “overweight” rating and a $15.00 price objective for the company.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. IFP Advisors Inc acquired a new position in Sharplink Gaming during the third quarter valued at approximately $102,000. Campbell Capital Management Inc. acquired a new position in shares of Sharplink Gaming during the 3rd quarter valued at $191,000. Caitong International Asset Management Co. Ltd purchased a new stake in Sharplink Gaming during the 3rd quarter worth $49,000. NewEdge Advisors LLC increased its holdings in Sharplink Gaming by 103.7% in the 3rd quarter. NewEdge Advisors LLC now owns 20,780 shares of the company’s stock valued at $353,000 after purchasing an additional 10,578 shares in the last quarter. Finally, Meteora Capital LLC purchased a new position in Sharplink Gaming in the third quarter valued at about $204,000. 13.75% of the stock is owned by hedge funds and other institutional investors.

Sharplink Gaming Stock Up 1.4%

Shares of NASDAQ SBET opened at $10.28 on Friday. The firm has a 50-day moving average price of $10.40 and a 200 day moving average price of $15.33. Sharplink Gaming has a 52 week low of $2.26 and a 52 week high of $124.12. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -4.30 and a beta of 11.12.

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.