Sharplink Gaming (NASDAQ:SBET) Shares Gap Up – Here’s What Happened

Sharplink Gaming Inc. (NASDAQ:SBET)’s share price gapped up before the market opened on Friday . The stock had previously closed at $9.02, but opened at $9.50. Sharplink Gaming shares last traded at $9.6540, with a volume of 1,135,195 shares.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SBET shares. B. Riley reduced their price objective on Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research note on Wednesday, October 8th. Zacks Research raised shares of Sharplink Gaming to a “hold” rating in a report on Friday, October 17th. Alliance Global Partners initiated coverage on shares of Sharplink Gaming in a report on Tuesday, August 26th. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Citizens Jmp began coverage on shares of Sharplink Gaming in a research report on Thursday, October 16th. They issued a “mkt outperform” rating and a $50.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.20.

Sharplink Gaming Trading Up 8.8%

The stock has a 50-day simple moving average of $11.76 and a 200-day simple moving average of $16.89. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -4.10 and a beta of 10.98.

Institutional Investors Weigh In On Sharplink Gaming

Institutional investors have recently bought and sold shares of the stock. Thames Capital Management LLC acquired a new position in Sharplink Gaming during the 2nd quarter valued at about $1,566,000. JPMorgan Chase & Co. acquired a new stake in shares of Sharplink Gaming in the 2nd quarter worth approximately $3,229,000. XTX Topco Ltd boosted its holdings in shares of Sharplink Gaming by 509.9% in the second quarter. XTX Topco Ltd now owns 110,270 shares of the company’s stock valued at $1,095,000 after acquiring an additional 92,189 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Sharplink Gaming during the second quarter valued at approximately $26,852,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Sharplink Gaming during the second quarter valued at approximately $151,000. 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.