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

Sharplink Gaming Inc. (NASDAQ:SBET) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $26.1429.

Several equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Sharplink Gaming from a “hold” rating to a “sell” rating in a research note on Saturday. Canaccord Genuity Group set a $16.00 price objective on shares of Sharplink Gaming and gave the company a “buy” rating in a 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. B. Riley Financial dropped their target price 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. Finally, Cantor Fitzgerald assumed coverage on Sharplink Gaming in a report on Monday, January 5th. They issued an “overweight” rating and a $15.00 price target for the company.

Institutional Investors Weigh In On Sharplink Gaming

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBET. Caitong International Asset Management Co. Ltd purchased a new position in Sharplink Gaming during the third quarter valued at $49,000. IFP Advisors Inc purchased a new position in Sharplink Gaming in the 3rd quarter valued at about $102,000. Global Retirement Partners LLC acquired a new stake in Sharplink Gaming in the 3rd quarter worth about $103,000. Empowered Funds LLC purchased a new stake in Sharplink Gaming during the 4th quarter worth approximately $56,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Sharplink Gaming during the third quarter valued at approximately $144,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

Sharplink Gaming Trading Down 5.4%

Shares of NASDAQ:SBET opened at $6.82 on Monday. Sharplink Gaming has a 12-month low of $2.26 and a 12-month high of $124.12. The business has a 50 day moving average of $8.62 and a two-hundred day moving average of $12.41. The company has a market capitalization of $1.34 billion, a PE ratio of -2.85 and a beta of 11.40.

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.