B. Riley Financial Cuts Sharplink Gaming (NASDAQ:SBET) Price Target to $10.00

Sharplink Gaming (NASDAQ:SBET) had its price target decreased by B. Riley Financial from $19.00 to $10.00 in a report issued on Monday,Benzinga reports. B. Riley Financial currently has a buy rating on the stock.

SBET has been the topic of several other reports. Canaccord Genuity Group set a $16.00 price target on shares of Sharplink Gaming and gave the company a “buy” rating in a research note on Thursday, January 29th. iA Financial set a $20.00 target price on shares of Sharplink Gaming in a report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. Sanford C. Bernstein began coverage on shares of Sharplink Gaming in a research report on Friday, October 31st. They issued an “outperform” rating and a $24.00 price target for the company. Finally, Cantor Fitzgerald started coverage on shares of Sharplink Gaming in a research note on Monday, January 5th. They issued an “overweight” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.14.

Sharplink Gaming Stock Performance

NASDAQ:SBET opened at $7.44 on Monday. The stock has a 50-day simple moving average of $8.72 and a 200-day simple moving average of $12.70. The stock has a market cap of $1.46 billion, a P/E ratio of -3.11 and a beta of 11.28. Sharplink Gaming has a 1 year low of $2.26 and a 1 year high of $124.12.

Hedge Funds Weigh In On Sharplink Gaming

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in shares of Sharplink Gaming in the second quarter valued at approximately $26,852,000. APEIRON CAPITAL Ltd acquired a new stake in shares of Sharplink Gaming during the third quarter worth $23,038,000. XTX Topco Ltd grew its position in Sharplink Gaming by 509.9% in the 2nd quarter. XTX Topco Ltd now owns 110,270 shares of the company’s stock valued at $1,095,000 after buying an additional 92,189 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Sharplink Gaming in the 3rd quarter valued at $30,812,000. Finally, Thames Capital Management LLC acquired a new position in Sharplink Gaming in the 2nd quarter valued at $1,566,000. Hedge funds and other 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.