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

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $21.3444.

Several brokerages have recently issued reports on SBET. Weiss Ratings cut shares of Sharplink Gaming from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 16th. Canaccord Genuity Group reissued a “buy” rating and set a $16.00 target price on shares of Sharplink Gaming in a research note on Tuesday, March 17th. HC Wainwright started coverage on shares of Sharplink Gaming in a report on Tuesday, April 7th. They set a “buy” rating and a $10.00 target price for the company. TD Cowen began coverage on shares of Sharplink Gaming in a research report on Friday, April 10th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Citizens Jmp dropped their price target on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 11th.

Sharplink Gaming Price Performance

Shares of Sharplink Gaming stock opened at $5.31 on Friday. The business has a fifty day simple moving average of $6.09 and a 200-day simple moving average of $7.38. Sharplink Gaming has a fifty-two week low of $4.46 and a fifty-two week high of $40.46. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -8.85 and a beta of 10.45.

Sharplink Gaming (NASDAQ:SBET) last released its earnings results on Friday, May 8th. The company reported ($3.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.The firm had revenue of $12.06 million for the quarter, compared to analyst estimates of $14.60 million. During the same period in the previous year, the firm earned ($1.84) earnings per share. Analysts anticipate that Sharplink Gaming will post 0.11 earnings per share for the current fiscal year.

Insider Activity at Sharplink Gaming

In related news, Director Robert M. Gutkowski sold 12,892 shares of the firm’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 value of $95,529.72. Following the completion of the transaction, the director owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. This trade represents a 34.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leslie Bernhard sold 12,892 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total value of $95,529.72. Following the completion of the sale, the director directly owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. This trade represents a 34.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 38,676 shares of company stock worth $286,589 in the last quarter. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sharplink Gaming

Large investors have recently made changes to their positions in the business. DV Trading LLC acquired a new stake in shares of Sharplink Gaming during the first quarter worth approximately $239,000. J. Derek Lewis & Associates Inc. increased its stake in Sharplink Gaming by 112.4% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 103,000 shares of the company’s stock valued at $664,000 after buying an additional 54,500 shares during the period. Bank of America Corp DE increased its stake in Sharplink Gaming by 56.6% in the 1st quarter. Bank of America Corp DE now owns 1,275,442 shares of the company’s stock valued at $8,227,000 after buying an additional 460,991 shares during the period. SummitTX Capital L.P. purchased a new stake in Sharplink Gaming in the 1st quarter worth approximately $73,000. Finally, Weiss Asset Management LP lifted its position in Sharplink Gaming by 19.1% in the 1st quarter. Weiss Asset Management LP now owns 3,042,548 shares of the company’s stock worth $19,624,000 after buying an additional 488,247 shares in the last quarter. Institutional investors and hedge funds 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.