Sharplink Gaming (NASDAQ:SBET) Lowered to Sell Rating by Wall Street Zen

Sharplink Gaming (NASDAQ:SBET) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other research firms also recently commented on SBET. iA Financial set a $20.00 price objective on shares of Sharplink Gaming in a report on Wednesday, January 7th. Canaccord Genuity Group set a $16.00 price target on shares of Sharplink Gaming and gave the company a “buy” rating in a research note on Thursday, January 29th. Sanford C. Bernstein assumed coverage on shares of Sharplink Gaming in a report on Friday, October 31st. They issued an “outperform” rating and a $24.00 price target on the stock. Cantor Fitzgerald started coverage on Sharplink Gaming in a report on Monday, January 5th. They set an “overweight” rating and a $15.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.14.

Sharplink Gaming Trading Down 5.4%

Shares of NASDAQ SBET opened at $6.82 on Friday. The company has a market capitalization of $1.34 billion, a P/E ratio of -2.85 and a beta of 11.28. Sharplink Gaming has a 12 month low of $2.26 and a 12 month high of $124.12. The stock has a 50 day moving average of $8.62 and a 200-day moving average of $12.56.

Institutional Trading of Sharplink Gaming

A number of institutional investors have recently modified their holdings of SBET. Caitong International Asset Management Co. Ltd bought a new position in shares of Sharplink Gaming in the third quarter worth $49,000. IFP Advisors Inc bought a new position in Sharplink Gaming in the 3rd quarter valued at about $102,000. Global Retirement Partners LLC acquired a new position in shares of Sharplink Gaming in the 3rd quarter valued at approximately $103,000. Empowered Funds LLC acquired a new position in shares of Sharplink Gaming in the 4th quarter valued at approximately $56,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of Sharplink Gaming during the 3rd quarter worth approximately $144,000. 13.75% of the stock is currently owned by institutional investors.

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. 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.