Sharplink Gaming (NASDAQ:SBET) Now Covered by Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of Sharplink Gaming (NASDAQ:SBET) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $10.00 price objective on the stock.

A number of other equities analysts have also recently commented on SBET. iA Financial set a $20.00 price target on Sharplink Gaming in a report on Wednesday, January 7th. Citizens Jmp reduced their price target on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating for the company in a report on Wednesday, March 11th. Wall Street Zen upgraded Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $16.00 price objective on shares of Sharplink Gaming in a research report on Tuesday, March 17th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.88.

Sharplink Gaming Trading Down 2.2%

NASDAQ:SBET opened at $6.24 on Tuesday. Sharplink Gaming has a 1-year low of $2.26 and a 1-year high of $124.12. The firm has a fifty day simple moving average of $7.19 and a 200 day simple moving average of $10.36. The stock has a market capitalization of $1.23 billion, a PE ratio of -2.61 and a beta of 11.31.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly earnings results on Friday, March 6th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. Sharplink Gaming had a negative return on equity of 50.72% and a negative net margin of 2,618.38%.The business had revenue of $13.31 million during the quarter, compared to analysts’ expectations of $17.19 million.

Institutional Investors Weigh In On Sharplink Gaming

A number of institutional investors have recently made changes to their positions in SBET. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sharplink Gaming during the third quarter worth approximately $49,000. Empowered Funds LLC bought a new stake in shares of Sharplink Gaming during the fourth quarter worth approximately $56,000. R Squared Ltd bought a new stake in shares of Sharplink Gaming during the fourth quarter worth approximately $90,000. Abacus Planning Group Inc. bought a new stake in shares of Sharplink Gaming during the fourth quarter worth approximately $94,000. Finally, CI Investments Inc. bought a new stake in shares of Sharplink Gaming during the fourth quarter worth approximately $100,000. Institutional investors 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.