Brokerages Set Sharplink Gaming Inc. (NASDAQ:SBET) PT at $20.23

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have earned an average recommendation of “Moderate Buy” from the eleven analysts 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 nine have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $20.2333.

SBET has been the subject of a number of recent research reports. Cantor Fitzgerald dropped their price objective on shares of Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings raised Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. HC Wainwright initiated coverage on shares of Sharplink Gaming in a report on Tuesday, April 7th. They set a “buy” rating and a $10.00 price target for the company. Wall Street Zen raised shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, TD Cowen started coverage on shares of Sharplink Gaming in a research note on Friday, April 10th. They set a “buy” rating and a $16.00 price objective on the stock.

Insider Buying and Selling

In other Sharplink Gaming news, Director Robert M. Gutkowski sold 12,892 shares of Sharplink Gaming stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total value of $95,529.72. Following the transaction, the director owned 24,998 shares in the company, valued at $185,235.18. This trade represents a 34.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leslie Bernhard sold 12,892 shares of Sharplink Gaming stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total value of $95,529.72. Following the completion of the transaction, the director owned 24,998 shares in the company, valued at $185,235.18. The trade was a 34.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 38,676 shares of company stock valued at $286,589. Insiders own 3.60% of the company’s stock.

Institutional Trading of Sharplink Gaming

A number of institutional investors have recently modified their holdings of the company. Wolverine Asset Management LLC acquired a new position in Sharplink Gaming during the fourth quarter valued at approximately $4,398,000. Highbridge Capital Management LLC grew its stake in Sharplink Gaming by 5,947.5% during the fourth quarter. Highbridge Capital Management LLC now owns 512,764 shares of the company’s stock worth $4,584,000 after buying an additional 504,285 shares during the period. Clear Street Group Inc. purchased a new stake in Sharplink Gaming during the fourth quarter worth approximately $5,253,000. Boundless Plain Holdings Ltd acquired a new stake in shares of Sharplink Gaming in the fourth quarter worth $8,150,000. Finally, SG Americas Securities LLC increased its position in shares of Sharplink Gaming by 332.9% in the first quarter. SG Americas Securities LLC now owns 758,022 shares of the company’s stock worth $4,889,000 after acquiring an additional 582,919 shares in the last quarter. Hedge funds and other institutional investors own 13.75% of the company’s stock.

Sharplink Gaming Trading Down 3.2%

Shares of NASDAQ SBET opened at $5.81 on Thursday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -9.68 and a beta of 10.45. Sharplink Gaming has a 52 week low of $4.46 and a 52 week high of $28.26. The company’s 50-day moving average price is $5.63 and its 200 day moving average price is $7.02.

Sharplink Gaming (NASDAQ:SBET) last posted its earnings results on Friday, May 8th. The company reported ($3.25) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($2.63). Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. The business had revenue of $12.06 million for the quarter, compared to analysts’ expectations of $14.60 million. During the same quarter last year, the business posted ($1.84) earnings per share. As a group, research analysts expect that Sharplink Gaming will post 0.11 earnings per share for the current 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.