Headlands Technologies LLC purchased a new position in shares of Sharplink Gaming Inc. (NASDAQ:SBET – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 279,377 shares of the company’s stock, valued at approximately $1,341,000. Headlands Technologies LLC owned approximately 0.13% of Sharplink Gaming at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lakewood Capital Management LP bought a new stake in Sharplink Gaming in the second quarter valued at $2,683,000. Compass Financial Management LLC bought a new position in Sharplink Gaming in the second quarter valued at about $1,110,000. Bank of New York Mellon Corp acquired a new stake in shares of Sharplink Gaming during the 2nd quarter worth approximately $2,488,000. Assenagon Asset Management S.A. acquired a new position in shares of Sharplink Gaming in the 2nd quarter valued at $181,000. Finally, DV Trading LLC bought a new position in Sharplink Gaming during the first quarter worth about $239,000. Institutional investors own 13.75% of the company’s stock.
Wall Street Analysts Forecast Growth
SBET has been the topic of a number of research reports. Canaccord Genuity Group cut their price target on shares of Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. Alliance Global Partners reiterated a “buy” rating on shares of Sharplink Gaming in a research note on Monday, May 11th. Citizens Jmp decreased their target price on Sharplink Gaming to $30.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. Cantor Fitzgerald reduced their price objective on Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Finally, Wall Street Zen raised shares of Sharplink Gaming from a “strong sell” rating to a “sell” rating in a report on Sunday. 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.39.
Sharplink Gaming Price Performance
Shares of Sharplink Gaming stock opened at $8.63 on Tuesday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 172.60 and a beta of 10.48. Sharplink Gaming Inc. has a one year low of $4.46 and a one year high of $19.53. The stock’s 50-day moving average is $6.23 and its 200 day moving average is $6.57.
Sharplink Gaming (NASDAQ:SBET – Get Free Report) last announced 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 return on equity of 33.40% and a negative net margin of 3,406.29%.The firm had revenue of $11.53 million during the quarter, compared to the consensus estimate of $12.26 million. On average, sell-side analysts expect that Sharplink Gaming Inc. will post 0.09 EPS for the current fiscal year.
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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