Sharplink Gaming (NASDAQ:SBET) Research Coverage Started at B. Riley

B. Riley started coverage on shares of Sharplink Gaming (NASDAQ:SBET) in a research report released on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $32.00 target price on the stock.

Several other equities analysts also recently weighed in on SBET. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research report on Wednesday, October 8th. Alliance Global Partners assumed coverage on Sharplink Gaming in a research report on Tuesday, August 26th. They issued a “buy” rating and a $48.00 target price for the company. Citizens Jmp assumed coverage on Sharplink Gaming in a research report on Thursday. They issued a “mkt outperform” rating and a $50.00 target price for the company. Finally, JMP Securities assumed coverage on Sharplink Gaming in a research report on Thursday. They issued a “market outperform” rating and a $50.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.00.

Sharplink Gaming Stock Performance

Shares of SBET opened at $14.34 on Wednesday. Sharplink Gaming has a 12-month low of $2.26 and a 12-month high of $124.12. The company’s 50-day moving average price is $17.74 and its 200 day moving average price is $16.29.

Sharplink Gaming (NASDAQ:SBET) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.64) earnings per share (EPS) for the quarter. The company had revenue of $0.70 million during the quarter. Sharplink Gaming had a negative net margin of 3,377.39% and a negative return on equity of 15.93%.

Insider Buying and Selling

In related news, Director Obie Mckenzie sold 18,334 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $19.17, for a total transaction of $351,462.78. Following the sale, the director directly owned 24,998 shares in the company, valued at approximately $479,211.66. This represents a 42.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert M. Gutkowski sold 18,334 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $19.17, for a total transaction of $351,462.78. Following the sale, the director owned 24,998 shares in the company, valued at $479,211.66. The trade was a 42.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,002 shares of company stock worth $1,054,388. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Sharplink Gaming

A number of large investors have recently made changes to their positions in the company. Collar Capital Management LLC purchased a new stake in shares of Sharplink Gaming during the third quarter worth approximately $1,702,000. S.A. Mason LLC acquired a new position in Sharplink Gaming in the third quarter valued at approximately $249,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Sharplink Gaming in the third quarter valued at approximately $407,000. Anatole Investment Management Ltd acquired a new position in Sharplink Gaming in the second quarter valued at approximately $6,332,000. Finally, HUB Investment Partners LLC acquired a new position in Sharplink Gaming in the second quarter valued at approximately $298,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

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.