Wall Street Zen upgraded shares of Sharplink Gaming (NASDAQ:SBET – Free Report) from a strong sell rating to a sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.
Other research analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Citizens Jmp cut their price target on Sharplink Gaming to $30.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. TD Cowen reiterated a “buy” rating and set a $13.00 price target (down from $16.00) on shares of Sharplink Gaming in a research note on Friday, July 31st. Canaccord Genuity Group dropped their target price on Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Sharplink Gaming in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.39.
Check Out Our Latest Research Report on SBET
Sharplink Gaming Stock Performance
Sharplink Gaming (NASDAQ:SBET – Get Free Report) last posted its quarterly earnings results on Saturday, August 8th. The company reported ($1.88) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($1.89). Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. The business had revenue of $11.53 million during the quarter, compared to analyst estimates of $12.26 million. On average, equities analysts forecast that Sharplink Gaming will post 0.09 earnings per share for the current fiscal year.
Institutional Trading of Sharplink Gaming
A number of hedge funds have recently bought and sold shares of SBET. Ausdal Financial Partners Inc. boosted its position in Sharplink Gaming by 16.1% in the fourth quarter. Ausdal Financial Partners Inc. now owns 11,606 shares of the company’s stock worth $104,000 after purchasing an additional 1,606 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Sharplink Gaming by 4.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 45,305 shares of the company’s stock valued at $405,000 after purchasing an additional 1,838 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sharplink Gaming during the 3rd quarter worth $49,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sharplink Gaming by 23.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,600 shares of the company’s stock worth $139,000 after purchasing an additional 2,946 shares during the period. Finally, Arete Wealth Advisors LLC raised its stake in shares of Sharplink Gaming by 6.9% during the 4th quarter. Arete Wealth Advisors LLC now owns 55,249 shares of the company’s stock worth $494,000 after purchasing an additional 3,585 shares during the period. 13.75% of the stock is currently owned by institutional investors.
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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