Sharplink Gaming Inc. (NASDAQ:SBET) Receives Consensus Rating of “Hold” from Brokerages

Sharplink Gaming Inc. (NASDAQ:SBET) has been given a consensus rating of “Hold” by the five brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $45.00.

Several analysts have commented on the stock. B. Riley assumed coverage on shares of Sharplink Gaming in a research note on Wednesday, October 15th. They set a “buy” rating and a $32.00 price objective for the company. Alliance Global Partners assumed coverage on shares of Sharplink Gaming in a research note on Tuesday, August 26th. They set a “buy” rating and a $48.00 price objective for the company. JMP Securities assumed coverage on shares of Sharplink Gaming in a research note on Thursday, October 16th. They set a “market outperform” rating and a $50.00 price objective for the company. Zacks Research upgraded shares of Sharplink Gaming to a “hold” rating in a research note on Friday, October 17th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Sharplink Gaming in a research note on Wednesday, October 8th.

Insider Activity at Sharplink Gaming

In related news, Director Obie Mckenzie sold 18,334 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $19.17, for a total value of $351,462.78. Following the completion of the transaction, the director directly owned 24,998 shares in the company, valued at $479,211.66. The trade was a 42.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert M. Gutkowski sold 18,334 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $19.17, for a total transaction of $351,462.78. Following the completion of the transaction, the director owned 24,998 shares of the company’s stock, valued at approximately $479,211.66. This represents a 42.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,002 shares of company stock worth $1,054,388 in the last three months. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Sharplink Gaming

Large investors have recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new position in shares of Sharplink Gaming in the 2nd quarter valued at $101,000. Global Retirement Partners LLC acquired a new position in shares of Sharplink Gaming in the 3rd quarter valued at $103,000. Qube Research & Technologies Ltd acquired a new position in shares of Sharplink Gaming in the 2nd quarter valued at $151,000. Ethos Financial Group LLC acquired a new position in shares of Sharplink Gaming in the 3rd quarter valued at $248,000. Finally, S.A. Mason LLC acquired a new position in shares of Sharplink Gaming in the 3rd quarter valued at $249,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

Sharplink Gaming Stock Up 2.8%

SBET stock opened at $14.31 on Tuesday. The firm has a 50 day moving average of $16.79 and a 200 day moving average of $16.93. The stock has a market capitalization of $2.75 billion, a PE ratio of -2.86 and a beta of 10.01. Sharplink Gaming has a 52 week low of $2.26 and a 52 week high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last released its earnings results on Thursday, August 14th. The company reported ($0.64) EPS for the quarter. The company had revenue of $0.70 million during the quarter. Sharplink Gaming had a negative return on equity of 15.93% and a negative net margin of 3,377.39%.

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.