Sharplink Gaming (NASDAQ:SBET) Earns "Sell (D)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reissued a "sell (D)" rating for Sharplink Gaming (NASDAQ: SBET), indicating a negative outlook for the company's stock.
• Alliance Global Partners initiated coverage with a "buy" rating and a price target of $48.00, suggesting a potential upside for investors.
• Sharplink Gaming's recent quarterly earnings report revealed a loss of ($0.64) per share and revenue of only $0.70 million, highlighting significant financial challenges.

Sharplink Gaming (NASDAQ:SBET - Get Free Report)'s stock had its "sell (d)" rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Alliance Global Partners initiated coverage on Sharplink Gaming in a research report on Tuesday, August 26th. They issued a "buy" rating and a $48.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Sharplink Gaming currently has an average rating of "Hold" and an average price target of $48.00.

Sharplink Gaming Price Performance

SBET stock opened at $17.57 on Wednesday. The stock has a 50-day moving average price of $18.48 and a 200-day moving average price of $15.72. Sharplink Gaming has a 1-year low of $2.26 and a 1-year high of $124.12.

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

Insider Buying and Selling at Sharplink Gaming

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

Hedge Funds Weigh In On Sharplink Gaming

A number of hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new position in shares of Sharplink Gaming during the 2nd quarter worth approximately $26,852,000. Anatole Investment Management Ltd bought a new position in shares of Sharplink Gaming during the 2nd quarter worth approximately $6,332,000. JPMorgan Chase & Co. bought a new position in shares of Sharplink Gaming during the 2nd quarter worth approximately $3,229,000. Thames Capital Management LLC bought a new position in shares of Sharplink Gaming during the 2nd quarter worth approximately $1,566,000. Finally, XTX Topco Ltd lifted its position in shares of Sharplink Gaming by 509.9% during the 2nd quarter. XTX Topco Ltd now owns 110,270 shares of the company's stock worth $1,095,000 after buying an additional 92,189 shares in the last quarter. 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.

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