Sharplink Gaming Sees Unusually High Options Volume (NASDAQ:SBET)

Sharplink Gaming Inc. (NASDAQ:SBET) saw some unusual options trading activity on Monday. Stock investors purchased 34,224 call options on the company. This is an increase of approximately 20% compared to the typical volume of 28,476 call options.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ausdal Financial Partners Inc. raised its holdings in shares of Sharplink Gaming by 16.1% during the 4th quarter. Ausdal Financial Partners Inc. now owns 11,606 shares of the company’s stock valued at $104,000 after purchasing an additional 1,606 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Sharplink Gaming during the 3rd quarter valued at $49,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 valued at $139,000 after purchasing an additional 2,946 shares in the last quarter. Finally, Arete Wealth Advisors LLC raised its holdings 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 valued at $494,000 after purchasing an additional 3,585 shares in the last quarter. Institutional investors own 13.75% of the company’s stock.

Sharplink Gaming Stock Down 5.3%

Shares of NASDAQ:SBET traded down $0.43 during trading on Monday, reaching $7.57. 5,268,797 shares of the company traded hands, compared to its average volume of 7,128,677. The firm has a fifty day simple moving average of $7.04 and a 200 day simple moving average of $9.80. The firm has a market cap of $1.49 billion, a P/E ratio of -3.17 and a beta of 11.31. Sharplink Gaming has a 1-year low of $2.26 and a 1-year high of $124.12.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald raised shares of Sharplink Gaming to a “strong-buy” rating in a research note on Thursday, April 9th. Citizens Jmp decreased their target price on shares of Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 11th. HC Wainwright assumed coverage on shares of Sharplink Gaming in a research note on Tuesday, April 7th. They set a “buy” rating and a $10.00 target price for the company. B. Riley Financial decreased their target price on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Finally, iA Financial set a $20.00 target price on shares of Sharplink Gaming in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.11.

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.