Sharplink Gaming Inc. (NASDAQ:SBET) Short Interest Update

Key Points

• Sharplink Gaming Inc. (NASDAQ:SBET) reported a 31.2% decrease in short interest, with totals dropping from 20,760,000 shares to 14,280,000 shares as of September 30th.
• Insider trading activity included directors Robert M. Gutkowski and Obie Mckenzie each selling 18,334 shares of stock, representing a 42.31% decrease in their ownership.
• Institutional investors now hold 13.75% of Sharplink Gaming's stock following several new acquisitions, including stakes valued at approximately $249,000 and $298,000 during recent quarters.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) saw a significant decrease in short interest in September. As of September 30th, there was short interest totaling 14,280,000 shares, a decrease of 31.2% from the September 15th total of 20,760,000 shares. Based on an average daily volume of 38,810,000 shares, the short-interest ratio is presently 0.4 days. Approximately 7.6% of the company's shares are sold short. Approximately 7.6% of the company's shares are sold short. Based on an average daily volume of 38,810,000 shares, the short-interest ratio is presently 0.4 days.

Insiders Place Their Bets

In other Sharplink Gaming news, Director Robert M. Gutkowski sold 18,334 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $19.17, for a total transaction of $351,462.78. Following the transaction, the director directly owned 24,998 shares in the company, valued at $479,211.66. This represents a 42.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Obie Mckenzie sold 18,334 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $19.17, for a total value of $351,462.78. Following the sale, the director directly owned 24,998 shares in the company, valued at $479,211.66. This represents a 42.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,002 shares of company stock worth $1,054,388 over the last ninety days. Corporate insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Sharplink Gaming

A number of hedge funds and other institutional investors have recently modified their holdings of SBET. NewEdge Advisors LLC acquired a new stake in shares of Sharplink Gaming during the 2nd quarter valued at approximately $101,000. Global Retirement Partners LLC purchased a new position in shares of Sharplink Gaming during the 3rd quarter worth approximately $103,000. Qube Research & Technologies Ltd purchased a new position in shares of Sharplink Gaming during the 2nd quarter worth approximately $151,000. S.A. Mason LLC purchased a new position in shares of Sharplink Gaming during the 3rd quarter worth approximately $249,000. Finally, HUB Investment Partners LLC purchased a new position in shares of Sharplink Gaming during the 2nd quarter worth approximately $298,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

Sharplink Gaming Trading Up 1.3%

SBET stock opened at $13.61 on Thursday. The firm has a 50 day moving average of $17.23 and a 200-day moving average of $16.52. Sharplink Gaming has a 12-month low of $2.26 and a 12-month high of $124.12.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.64) earnings per share (EPS) for the quarter. Sharplink Gaming had a negative net margin of 3,377.39% and a negative return on equity of 15.93%. The company had revenue of $0.70 million for the quarter.

Analyst Upgrades and Downgrades

SBET has been the topic of several research reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Sharplink Gaming in a report on Wednesday, October 8th. JMP Securities initiated coverage on Sharplink Gaming in a report on Thursday, October 16th. They set a "market outperform" rating and a $50.00 price objective on the stock. Zacks Research raised Sharplink Gaming to a "hold" rating in a report on Friday, October 17th. B. Riley started coverage on Sharplink Gaming in a report on Wednesday, October 15th. They set a "buy" rating and a $32.00 price objective on the stock. Finally, Alliance Global Partners started coverage on shares of Sharplink Gaming in a research note on Tuesday, August 26th. They set a "buy" rating and a $48.00 target price for the company. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Sharplink Gaming currently has an average rating of "Hold" and a consensus target price of $45.00.

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.

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