BIT Capital GmbH Raises Stock Position in Sharplink Gaming Inc. $SBET

BIT Capital GmbH boosted its holdings in Sharplink Gaming Inc. (NASDAQ:SBET) by 103.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,215,819 shares of the company’s stock after acquiring an additional 618,508 shares during the period. BIT Capital GmbH owned 0.63% of Sharplink Gaming worth $20,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. NewEdge Advisors LLC purchased a new stake in Sharplink Gaming during the 2nd quarter worth about $101,000. Global Retirement Partners LLC acquired a new stake in shares of Sharplink Gaming in the third quarter worth approximately $103,000. Qube Research & Technologies Ltd acquired a new stake in shares of Sharplink Gaming during the 2nd quarter worth $151,000. PFG Investments LLC purchased a new position in shares of Sharplink Gaming in the 3rd quarter worth $171,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Sharplink Gaming in the third quarter valued at $176,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SBET shares. Weiss Ratings restated a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. Cantor Fitzgerald assumed coverage on shares of Sharplink Gaming in a report on Monday, January 5th. They issued an “overweight” rating and a $15.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of Sharplink Gaming in a research note on Friday, October 31st. They set an “outperform” rating and a $24.00 price objective for the company. iA Financial set a $20.00 target price on shares of Sharplink Gaming in a research note on Wednesday, January 7th. Finally, Canaccord Genuity Group set a $16.00 target price on shares of Sharplink Gaming and gave the company a “buy” rating in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sharplink Gaming presently has a consensus rating of “Moderate Buy” and an average price target of $27.43.

Sharplink Gaming Stock Performance

NASDAQ:SBET opened at $6.80 on Friday. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -2.85 and a beta of 11.28. Sharplink Gaming Inc. has a one year low of $2.26 and a one year high of $124.12. The business’s 50-day simple moving average is $8.95 and its 200 day simple moving average is $13.18.

Sharplink Gaming 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. 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.