Shares of Sharplink Gaming Inc. (NASDAQ:SBET – Get Free Report) have earned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $22.1111.
SBET has been the subject of a number of research reports. Weiss Ratings raised Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. HC Wainwright initiated coverage on Sharplink Gaming in a report on Tuesday, April 7th. They set a “buy” rating and a $10.00 target price for the company. Wall Street Zen raised Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Citizens Jmp decreased their target price 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. Finally, TD Cowen initiated coverage on Sharplink Gaming in a report on Friday, April 10th. They set a “buy” rating and a $16.00 target price for the company.
View Our Latest Report on SBET
Sharplink Gaming Stock Performance
Sharplink Gaming (NASDAQ:SBET – Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($3.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.The firm had revenue of $12.06 million for the quarter, compared to analyst estimates of $14.60 million. During the same period last year, the firm earned ($1.84) EPS. As a group, sell-side analysts predict that Sharplink Gaming will post 0.15 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Robert M. Gutkowski sold 12,892 shares of Sharplink Gaming stock in a transaction that occurred 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 completion of the transaction, the director directly owned 24,998 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leslie Bernhard sold 12,892 shares of Sharplink Gaming stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total value of $95,529.72. Following the transaction, the director owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. This represents a 34.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 38,676 shares of company stock valued at $286,589 over the last quarter. 3.60% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. J. Derek Lewis & Associates Inc. raised its position in Sharplink Gaming by 112.4% during the first quarter. J. Derek Lewis & Associates Inc. now owns 103,000 shares of the company’s stock valued at $664,000 after acquiring an additional 54,500 shares in the last quarter. Bank of America Corp DE raised its position in Sharplink Gaming by 56.6% during the first quarter. Bank of America Corp DE now owns 1,275,442 shares of the company’s stock valued at $8,227,000 after acquiring an additional 460,991 shares in the last quarter. SummitTX Capital L.P. purchased a new position in Sharplink Gaming during the first quarter valued at approximately $73,000. Weiss Asset Management LP raised its position in Sharplink Gaming by 19.1% during the first quarter. Weiss Asset Management LP now owns 3,042,548 shares of the company’s stock valued at $19,624,000 after acquiring an additional 488,247 shares in the last quarter. Finally, Galaxy Digital Inc. purchased a new position in Sharplink Gaming during the first quarter valued at approximately $192,000. 13.75% of the stock is currently owned by hedge funds and other 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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