Sharplink Gaming Inc. (NASDAQ:SBET – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $5.14 and last traded at $5.1350, with a volume of 4627404 shares. The stock had previously closed at $5.72.
Analyst Ratings Changes
Several brokerages have recently issued reports on SBET. Weiss Ratings upgraded shares of Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 target price on shares of Sharplink Gaming in a report on Tuesday, March 17th. Wall Street Zen raised shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Cantor Fitzgerald raised shares of Sharplink Gaming to a “strong-buy” rating in a report on Thursday, April 9th. Finally, Citizens Jmp cut their target price on shares of Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sharplink Gaming has an average rating of “Moderate Buy” and a consensus price target of $22.11.
Read Our Latest Report on Sharplink Gaming
Sharplink Gaming Trading Down 10.8%
Sharplink Gaming (NASDAQ:SBET – Get Free Report) last posted its earnings results on Friday, May 8th. The company reported ($3.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). The business had revenue of $12.06 million for the quarter, compared to analyst estimates of $14.60 million. Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.During the same period last year, the company posted ($1.84) EPS. On average, equities analysts predict that Sharplink Gaming Inc. will post 0.15 earnings per share for the current fiscal year.
Insider Buying and Selling at Sharplink Gaming
In other news, Director Robert M. Gutkowski sold 12,892 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total transaction of $95,529.72. Following the transaction, the director directly owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. This trade represents a 34.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leslie Bernhard sold 12,892 shares of Sharplink Gaming stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total value of $95,529.72. Following the transaction, the director directly owned 24,998 shares in the company, valued at approximately $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 38,676 shares of company stock worth $286,589. 3.60% of the stock is owned by insiders.
Hedge Funds Weigh In On Sharplink Gaming
A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in Sharplink Gaming during the 2nd quarter worth about $3,229,000. Qube Research & Technologies Ltd acquired a new stake in Sharplink Gaming during the 2nd quarter worth about $151,000. NewEdge Advisors LLC acquired a new stake in shares of Sharplink Gaming during the 2nd quarter valued at about $101,000. HUB Investment Partners LLC acquired a new stake in shares of Sharplink Gaming during the 2nd quarter valued at about $298,000. Finally, Anatole Investment Management Ltd acquired a new stake in shares of Sharplink Gaming during the 2nd quarter valued at about $6,332,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.
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.
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