Sharplink Gaming (NASDAQ:SBET) Stock Rating Upgraded by Wall Street Zen

Sharplink Gaming (NASDAQ:SBET) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also weighed in on SBET. B. Riley Financial reduced their price objective on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. Canaccord Genuity Group set a $16.00 target price on Sharplink Gaming and gave the stock a “buy” rating in a research note on Thursday, January 29th. Cantor Fitzgerald started coverage on Sharplink Gaming in a report on Monday, January 5th. They set an “overweight” rating and a $15.00 price target for the company. Finally, iA Financial set a $20.00 price target on Sharplink Gaming in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.71.

Sharplink Gaming Price Performance

NASDAQ:SBET opened at $7.53 on Friday. The firm has a market capitalization of $1.48 billion, a P/E ratio of -3.15 and a beta of 11.40. Sharplink Gaming has a one year low of $2.26 and a one year high of $124.12. The company’s 50-day simple moving average is $8.31 and its 200 day simple moving average is $11.54.

Sharplink Gaming (NASDAQ:SBET) last announced its earnings results on Monday, March 9th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. Sharplink Gaming had a negative net margin of 2,618.38% and a negative return on equity of 50.72%. The business had revenue of $13.31 million during the quarter, compared to the consensus estimate of $17.19 million.

Hedge Funds Weigh In On Sharplink Gaming

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