Sharplink Gaming Inc. (NASDAQ:SBET) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.2333.

A number of research analysts recently weighed in on SBET shares. Citizens Jmp dropped their price objective on shares of Sharplink Gaming to $30.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. Citigroup reissued a “market outperform” rating on shares of Sharplink Gaming in a research report on Thursday, July 9th. Wall Street Zen upgraded shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. TD Cowen assumed coverage on Sharplink Gaming in a research note on Friday, April 10th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, HC Wainwright began coverage on Sharplink Gaming in a report on Tuesday, April 7th. They issued a “buy” rating and a $10.00 target price for the company.

Sharplink Gaming Trading Down 4.7%

Shares of NASDAQ:SBET opened at $6.14 on Thursday. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -10.23 and a beta of 10.45. Sharplink Gaming has a 12-month low of $4.46 and a 12-month high of $28.26. The business has a 50-day moving average price of $5.63 and a 200 day moving average price of $6.91.

Sharplink Gaming (NASDAQ:SBET) last posted its earnings results on Friday, May 8th. The company reported ($3.25) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $12.06 million during the quarter, compared to analyst estimates of $14.60 million. During the same quarter last year, the business posted ($1.84) EPS. As a group, equities research analysts predict that Sharplink Gaming will post 0.11 earnings per share for the current fiscal year.

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 shares were sold at an average price of $7.41, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Obie Mckenzie sold 12,892 shares of the firm’s 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 owned 24,998 shares in the company, valued at approximately $185,235.18. This represents a 34.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 38,676 shares of company stock worth $286,589. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sharplink Gaming

Several hedge funds have recently added to or reduced their stakes in the stock. Ausdal Financial Partners Inc. lifted its position in shares of Sharplink Gaming by 16.1% during the 4th quarter. Ausdal Financial Partners Inc. now owns 11,606 shares of the company’s stock worth $104,000 after buying an additional 1,606 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Sharplink Gaming by 4.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 45,305 shares of the company’s stock worth $405,000 after acquiring an additional 1,838 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Sharplink Gaming in the third quarter valued at $49,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sharplink Gaming by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,600 shares of the company’s stock worth $139,000 after purchasing an additional 2,946 shares during the last quarter. Finally, Arete Wealth Advisors LLC increased its position in shares of Sharplink Gaming by 6.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 55,249 shares of the company’s stock worth $494,000 after purchasing an additional 3,585 shares in the last quarter. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

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.