Sharplink Gaming (NASDAQ:SBET) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Sharplink Gaming (NASDAQ:SBET) from a hold rating to a sell rating in a report issued on Saturday.

Several other equities research analysts have also weighed in on the company. B. Riley Financial decreased their price objective on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Canaccord Genuity Group set a $16.00 target price on shares of Sharplink Gaming and gave the stock a “buy” rating in a research report on Thursday, January 29th. iA Financial set a $20.00 target price on shares of Sharplink Gaming in a research note on Wednesday, January 7th. Sanford C. Bernstein assumed coverage on shares of Sharplink Gaming in a research note on Friday, October 31st. They set an “outperform” rating and a $24.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.14.

Sharplink Gaming Trading Down 5.4%

Shares of NASDAQ SBET opened at $6.82 on Friday. The stock has a fifty day simple moving average of $8.62 and a two-hundred day simple moving average of $12.49. Sharplink Gaming has a 1-year low of $2.26 and a 1-year high of $124.12. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -2.85 and a beta of 11.28.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Thames Capital Management LLC bought a new stake in Sharplink Gaming during the second quarter valued at $1,566,000. JPMorgan Chase & Co. purchased a new stake in shares of Sharplink Gaming in the 2nd quarter valued at about $3,229,000. XTX Topco Ltd boosted its position in shares of Sharplink Gaming by 509.9% during the 2nd quarter. XTX Topco Ltd now owns 110,270 shares of the company’s stock valued at $1,095,000 after acquiring an additional 92,189 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Sharplink Gaming during the 2nd quarter valued at about $26,852,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Sharplink Gaming during the second quarter worth about $151,000. Institutional investors own 13.75% of the company’s stock.

About Sharplink Gaming

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.