Sharplink Gaming Inc. (NASDAQ:SBET) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) have been given an average rating of "Moderate Buy" by the ten research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $22.1111.

Several brokerages have weighed in on SBET. HC Wainwright started coverage on Sharplink Gaming in a research note on Tuesday, April 7th. They issued a "buy" rating and a $10.00 target price on the stock. Wall Street Zen downgraded Sharplink Gaming from a "hold" rating to a "sell" rating in a research report on Saturday, June 20th. Weiss Ratings downgraded Sharplink Gaming from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 16th. Alliance Global Partners restated a "buy" rating on shares of Sharplink Gaming in a research report on Monday, May 11th. Finally, TD Cowen assumed coverage on Sharplink Gaming in a research report on Friday, April 10th. They issued a "buy" rating and a $16.00 price objective on the stock.

Sharplink Gaming Stock Performance

Shares of NASDAQ SBET opened at $4.81 on Friday. Sharplink Gaming has a fifty-two week low of $4.46 and a fifty-two week high of $40.46. The firm has a market capitalization of $973.45 million, a PE ratio of -8.02 and a beta of 10.39. The stock's 50-day simple moving average is $6.35 and its 200-day simple moving average is $7.60.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last issued its earnings results on Friday, May 8th. The company reported ($3.25) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($2.63). The business had revenue of $12.06 million for the quarter, compared to analyst estimates of $14.60 million. Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.During the same period last year, the business posted ($1.84) EPS. On average, sell-side analysts forecast that Sharplink Gaming will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert M. Gutkowski sold 12,892 shares of the firm's 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 sale, the director directly owned 24,998 shares of the company's stock, valued at approximately $185,235.18. This trade represents a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Obie Mckenzie sold 12,892 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total transaction of $95,529.72. Following the completion of the sale, the director owned 24,998 shares of the company's stock, valued at approximately $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 38,676 shares of company stock worth $286,589. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sharplink Gaming

A number of institutional investors have recently bought and sold shares of the stock. Ausdal Financial Partners Inc. grew its holdings in Sharplink Gaming by 16.1% in the fourth quarter. Ausdal Financial Partners Inc. now owns 11,606 shares of the company's stock valued at $104,000 after purchasing an additional 1,606 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Sharplink Gaming by 4.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 45,305 shares of the company's stock valued at $405,000 after purchasing an additional 1,838 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Sharplink Gaming in the third quarter valued at approximately $49,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sharplink Gaming by 23.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,600 shares of the company's stock valued at $139,000 after purchasing an additional 2,946 shares during the period. Finally, Arete Wealth Advisors LLC increased its stake in Sharplink Gaming by 6.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 55,249 shares of the company's stock worth $494,000 after acquiring an additional 3,585 shares during the last quarter. 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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