Sharplink Gaming (NASDAQ:SBET) Shares Up 8.1% - What's Next?

Key Points

• Sharplink Gaming shares rose 8.1% to $8.755 during Thursday trading, although volume fell 70% below the average daily level.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $15.39, despite several recent target-price reductions.
• The company reported a quarterly loss of $1.88 per share versus expectations for a $0.01 profit, while revenue of $11.53 million also missed estimates; Sharplink posted a negative net margin of 3,406.29%.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report)'s share price traded up 8.1% during trading on Thursday . The stock traded as high as $8.69 and last traded at $8.7550. 2,403,262 shares changed hands during trading, a decline of 70% from the average daily volume of 8,005,889 shares. The stock had previously closed at $8.10.

Analyst Ratings Changes

Several research analysts have recently issued reports on SBET shares. Wall Street Zen upgraded Sharplink Gaming from a "strong sell" rating to a "sell" rating in a research report on Sunday. Cantor Fitzgerald reduced their target price on Sharplink Gaming from $10.50 to $8.10 and set an "overweight" rating on the stock in a report on Wednesday, July 1st. Alliance Global Partners restated a "buy" rating on shares of Sharplink Gaming in a research report on Monday, May 11th. Citizens Jmp lowered their price target on Sharplink Gaming to $30.00 and set a "market outperform" rating for the company in a research note on Thursday, July 9th. Finally, TD Cowen reiterated a "buy" rating and issued a $13.00 price target (down from $16.00) on shares of Sharplink Gaming in a research report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $15.39.

Sharplink Gaming Price Performance

The company has a market cap of $1.92 billion, a price-to-earnings ratio of 177.22 and a beta of 10.56. The stock has a 50-day moving average price of $6.36 and a 200 day moving average price of $6.59.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $11.53 million during the quarter, compared to analyst estimates of $12.26 million. Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. Sell-side analysts expect that Sharplink Gaming Inc. will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sharplink Gaming during the third quarter worth $49,000. Empowered Funds LLC acquired a new position in Sharplink Gaming in the 4th quarter worth $56,000. Independent Financial Group LLC bought a new position in Sharplink Gaming during the 1st quarter worth about $65,000. Ameritas Advisory Services LLC bought a new position in Sharplink Gaming during the 2nd quarter worth about $66,000. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Sharplink Gaming in the 1st quarter valued at about $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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