Sharplink Gaming Inc. (NASDAQ:SBET – Get Free Report) was the target of some unusual options trading on Wednesday. Stock traders purchased 45,315 call options on the company. This is an increase of 90% compared to the typical volume of 23,888 call options.
Sharplink Gaming Price Performance
Shares of NASDAQ SBET traded up $0.66 during midday trading on Wednesday, reaching $6.95. 11,436,712 shares of the stock were exchanged, compared to its average volume of 7,863,017. Sharplink Gaming has a 12 month low of $4.46 and a 12 month high of $21.03. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 138.90 and a beta of 10.48. The business has a 50-day simple moving average of $5.74 and a two-hundred day simple moving average of $6.53.
Sharplink Gaming (NASDAQ:SBET – Get Free Report) last released its quarterly earnings data on Saturday, August 8th. The company reported ($1.88) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.89). The firm had revenue of $11.53 million during the quarter, compared to the consensus estimate of $12.26 million. Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. Equities research analysts expect that Sharplink Gaming will post 0.09 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on SBET
Institutional Trading of Sharplink Gaming
Hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC bought a new position in shares of Sharplink Gaming during the fourth quarter worth about $4,398,000. Highbridge Capital Management LLC lifted its stake in Sharplink Gaming by 5,947.5% in the 4th quarter. Highbridge Capital Management LLC now owns 512,764 shares of the company’s stock valued at $4,584,000 after acquiring an additional 504,285 shares in the last quarter. Clear Street Group Inc. acquired a new position in Sharplink Gaming during the 4th quarter worth approximately $5,253,000. Boundless Plain Holdings Ltd acquired a new position in Sharplink Gaming during the 4th quarter worth approximately $8,150,000. Finally, Weiss Asset Management LP grew its stake in shares of Sharplink Gaming by 19.1% during the 1st quarter. Weiss Asset Management LP now owns 3,042,548 shares of the company’s stock worth $19,624,000 after acquiring an additional 488,247 shares in the last quarter. 13.75% of the stock is currently owned by institutional investors and hedge funds.
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.
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