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

Electric Capital Partners LLC bought a new stake in Sharplink Gaming Inc. (NASDAQ:SBET) during the 4th quarter, HoldingsChannel.com reports. The firm bought 100,000 shares of the company’s stock, valued at approximately $894,000. Sharplink Gaming comprises approximately 0.6% of Electric Capital Partners LLC’s holdings, making the stock its 4th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in SBET. JPMorgan Chase & Co. purchased a new position in shares of Sharplink Gaming in the second quarter valued at approximately $3,229,000. Qube Research & Technologies Ltd purchased a new position in shares of Sharplink Gaming in the second quarter valued at approximately $151,000. NewEdge Advisors LLC purchased a new position in shares of Sharplink Gaming in the second quarter valued at approximately $101,000. HUB Investment Partners LLC purchased a new position in shares of Sharplink Gaming in the second quarter valued at approximately $298,000. Finally, Anatole Investment Management Ltd purchased a new position in shares of Sharplink Gaming in the second quarter valued at approximately $6,332,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SBET shares. B. Riley Financial reduced their price objective 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. Alliance Global Partners reiterated a “buy” rating on shares of Sharplink Gaming in a research report on Monday, May 11th. TD Cowen started coverage on Sharplink Gaming in a research report on Friday, April 10th. They set a “buy” rating and a $16.00 price objective on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price objective on shares of Sharplink Gaming in a research report on Tuesday, March 17th. Finally, Weiss Ratings upgraded Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.11.

Insider Activity

In other news, Director Robert M. Gutkowski sold 12,892 shares of Sharplink Gaming stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total value of $95,529.72. Following the completion of the sale, the director directly owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Leslie Bernhard sold 12,892 shares of Sharplink Gaming stock in a transaction 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 sale, the director directly owned 24,998 shares of the company’s stock, valued at $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 38,676 shares of company stock valued at $286,589. 3.60% of the stock is currently owned by corporate insiders.

Sharplink Gaming Trading Up 1.5%

Shares of NASDAQ SBET opened at $5.51 on Friday. Sharplink Gaming Inc. has a twelve month low of $5.06 and a twelve month high of $40.46. The stock has a fifty day simple moving average of $6.63 and a 200-day simple moving average of $7.96. The stock has a market capitalization of $1.09 billion, a PE ratio of -9.18 and a beta of 10.39.

Sharplink Gaming (NASDAQ:SBET) last issued its quarterly earnings data 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). Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. The firm had revenue of $12.06 million during the quarter, compared to analyst estimates of $14.60 million. During the same period in the previous year, the firm posted ($1.84) earnings per share. On average, equities analysts predict that Sharplink Gaming Inc. will post 0.15 earnings per share for the current year.

Sharplink Gaming 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.