Sharplink Gaming Target of Unusually Large Options Trading (NASDAQ:SBET)

Sharplink Gaming Inc. (NASDAQ:SBET) was the target of unusually large options trading activity on Monday. Stock investors acquired 34,224 call options on the stock. This represents an increase of approximately 20% compared to the typical daily volume of 28,476 call options.

Institutional Trading of Sharplink Gaming

Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC raised its position in shares of Sharplink Gaming by 332.9% during the 1st quarter. SG Americas Securities LLC now owns 758,022 shares of the company’s stock valued at $4,889,000 after purchasing an additional 582,919 shares during the period. J. Derek Lewis & Associates Inc. bought a new stake in shares of Sharplink Gaming during the 4th quarter valued at $434,000. Hsbc Holdings PLC raised its position in shares of Sharplink Gaming by 12.6% during the 4th quarter. Hsbc Holdings PLC now owns 99,001 shares of the company’s stock valued at $867,000 after purchasing an additional 11,114 shares during the period. Invesco Ltd. raised its position in shares of Sharplink Gaming by 165.9% during the 4th quarter. Invesco Ltd. now owns 2,734,052 shares of the company’s stock valued at $24,442,000 after purchasing an additional 1,706,011 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Sharplink Gaming during the 4th quarter valued at $56,000. 13.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SBET has been the topic of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price target on shares of Sharplink Gaming in a research note on Tuesday, March 17th. iA Financial set a $20.00 price target on shares of Sharplink Gaming in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. B. Riley Financial dropped their price target on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Finally, Cantor Fitzgerald upgraded shares of Sharplink Gaming to a “strong-buy” rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.11.

Sharplink Gaming Price Performance

Shares of SBET stock opened at $7.79 on Tuesday. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -3.26 and a beta of 11.31. Sharplink Gaming has a one year low of $2.26 and a one year high of $124.12. The company’s fifty day moving average price is $7.05 and its 200-day moving average price is $9.73.

Sharplink Gaming (NASDAQ:SBET) last announced its quarterly earnings data on Friday, March 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.11. The firm had revenue of $13.31 million for the quarter, compared to the consensus estimate of $17.19 million. Sharplink Gaming had a negative net margin of 2,618.38% and a negative return on equity of 50.72%. Equities research analysts expect that Sharplink Gaming will post 0.09 earnings per share for the current fiscal year.

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.