Sharplink Gaming (NASDAQ:SBET) Raised to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Sharplink Gaming from “strong sell” to “sell,” while other analysts remain more optimistic; the stock has a consensus “Moderate Buy” rating and an average target price of $15.39.
• Sharplink Gaming reported a quarterly loss of $1.88 per share, missing estimates by $1.89, and revenue of $11.53 million, below the $12.26 million consensus forecast.
• SBET opened at $8.20, with a market capitalization of $1.78 billion and exceptionally high volatility, reflected by a beta of 10.48; institutional investors own 13.75% of the company.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Sunday.

Several other brokerages have also recently weighed in on SBET. Citizens Jmp reduced their price target on Sharplink Gaming to $30.00 and set a "market outperform" rating for the company in a research report on Thursday, July 9th. Alliance Global Partners restated a "buy" rating on shares of Sharplink Gaming in a research report on Monday, May 11th. Cantor Fitzgerald dropped their price objective on shares of Sharplink Gaming from $10.50 to $8.10 and set an "overweight" rating on the stock in a research note on Wednesday, July 1st. Citigroup reaffirmed a "market outperform" rating on shares of Sharplink Gaming in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded shares of Sharplink Gaming from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, July 6th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sharplink Gaming has an average rating of "Moderate Buy" and a consensus target price of $15.39.

Sharplink Gaming Price Performance

NASDAQ SBET opened at $8.20 on Friday. Sharplink Gaming has a 1 year low of $4.46 and a 1 year high of $19.53. The company has a market capitalization of $1.78 billion, a PE ratio of 164.00 and a beta of 10.48. The company has a fifty day moving average of $6.17 and a 200 day moving average of $6.56.

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 for the quarter, missing the consensus estimate of $0.01 by ($1.89). The company had revenue of $11.53 million for the quarter, compared to analyst estimates of $12.26 million. Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%. Research analysts expect that Sharplink Gaming will post 0.09 earnings per share for the current year.

Institutional Trading of Sharplink Gaming

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sharplink Gaming during the 3rd quarter worth about $49,000. Empowered Funds LLC acquired a new stake in Sharplink Gaming in the 4th quarter worth about $56,000. Independent Financial Group LLC acquired a new stake in Sharplink Gaming in the 1st quarter worth about $65,000. Ameritas Advisory Services LLC purchased a new stake in Sharplink Gaming during the 2nd quarter worth approximately $66,000. Finally, Koshinski Asset Management Inc. purchased a new stake in Sharplink Gaming during the 1st quarter worth approximately $71,000. Institutional investors and hedge funds own 13.75% of the company's stock.

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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