Insider Selling: Sharplink Gaming (NASDAQ:SBET) Director Sells $95,529.72 in Stock

Sharplink Gaming Inc. (NASDAQ:SBET) Director Leslie Bernhard sold 12,892 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 24,998 shares of the company’s stock, valued at $185,235.18. This trade represents a 34.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Sharplink Gaming Stock Up 6.3%

Shares of NASDAQ:SBET opened at $7.40 on Friday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -12.33 and a beta of 10.69. Sharplink Gaming Inc. has a 12 month low of $2.58 and a 12 month high of $124.12. The company’s fifty day simple moving average is $7.22 and its 200 day simple moving average is $8.79.

Sharplink Gaming (NASDAQ:SBET) last announced its earnings results on Friday, May 8th. The company reported ($3.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). The company had revenue of $12.06 million during the quarter, compared to analyst estimates of $14.60 million. Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.During the same period in the previous year, the company posted ($1.84) earnings per share. Research analysts expect that Sharplink Gaming Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SBET. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sharplink Gaming during the 3rd quarter worth approximately $49,000. Empowered Funds LLC acquired a new stake in shares of Sharplink Gaming in the 4th quarter valued at approximately $56,000. Independent Financial Group LLC bought a new position in shares of Sharplink Gaming in the first quarter valued at $65,000. Koshinski Asset Management Inc. bought a new position in shares of Sharplink Gaming in the first quarter valued at $71,000. Finally, R Squared Ltd acquired a new position in Sharplink Gaming during the fourth quarter worth $90,000. 13.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SBET has been the subject of a number of research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price objective on shares of Sharplink Gaming in a report on Tuesday, March 17th. B. Riley Financial reduced their price target 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 reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, TD Cowen began coverage on shares of Sharplink Gaming in a report on Friday, April 10th. They set a “buy” rating and a $16.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.11.

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.