Brokerages Set Sharplink Gaming Inc. (NASDAQ:SBET) PT at $45.00

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have been assigned an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $45.00.

SBET has been the subject of several recent analyst reports. Alliance Global Partners started coverage on Sharplink Gaming in a research note on Tuesday, August 26th. They set a “buy” rating and a $48.00 price target for the company. Zacks Research raised Sharplink Gaming to a “hold” rating in a research report on Friday, October 17th. B. Riley started coverage on Sharplink Gaming in a research report on Wednesday, October 15th. They set a “buy” rating and a $32.00 price objective for the company. Citizens Jmp started coverage on Sharplink Gaming in a research report on Thursday, October 16th. They set a “mkt outperform” rating and a $50.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sharplink Gaming in a research report on Wednesday, October 8th.

Sharplink Gaming Trading Up 0.5%

SBET opened at $13.51 on Tuesday. The stock has a 50-day moving average of $17.03 and a 200-day moving average of $16.59. Sharplink Gaming has a 52-week low of $2.26 and a 52-week high of $124.12.

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

Insider Buying and Selling

In related news, Director Leslie Bernhard sold 18,334 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $19.17, for a total transaction of $351,462.78. Following the completion of the transaction, the director owned 24,998 shares of the company’s stock, valued at approximately $479,211.66. The trade was a 42.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert M. Gutkowski sold 18,334 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $19.17, for a total value of $351,462.78. Following the transaction, the director directly owned 24,998 shares of the company’s stock, valued at $479,211.66. This represents a 42.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,002 shares of company stock valued at $1,054,388. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Sharplink Gaming

Several large investors have recently added to or reduced their stakes in SBET. Marshall Wace LLP acquired a new position in Sharplink Gaming in the 2nd quarter valued at approximately $26,852,000. Anatole Investment Management Ltd acquired a new position in Sharplink Gaming in the 2nd quarter valued at approximately $6,332,000. JPMorgan Chase & Co. acquired a new position in Sharplink Gaming in the 2nd quarter valued at approximately $3,229,000. SG Americas Securities LLC acquired a new position in Sharplink Gaming in the 3rd quarter valued at approximately $2,854,000. Finally, Thames Capital Management LLC acquired a new position in Sharplink Gaming in the 2nd quarter valued at approximately $1,566,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

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.