Sharplink Gaming (NASDAQ:SBET) Issues Quarterly Earnings Results

Key Points

• Sharplink Gaming reported a quarterly earnings loss of ($0.64) EPS with a revenue of $0.70 million, reflecting significant financial struggles indicated by a negative return on equity of 885.79%.
• The company's stock experienced a 15.5% decline, trading at $19.85, amidst a high trading volume significantly above its average.
• Insider transactions included CFO Robert Michael Delucia and CEO Rob Phythian both increasing their stakes significantly, with the CFO acquiring 7,440 shares and the CEO acquiring 44,640 shares.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.64) EPS for the quarter, Zacks reports. The company had revenue of $0.70 million during the quarter. Sharplink Gaming had a negative return on equity of 885.79% and a negative net margin of 3,377.39%.

Sharplink Gaming Trading Down 15.5%

SBET stock traded down $3.64 during trading on Friday, hitting $19.85. The company had a trading volume of 59,942,248 shares, compared to its average volume of 54,612,768. Sharplink Gaming has a 52-week low of $2.26 and a 52-week high of $124.12. The company has a 50 day simple moving average of $19.69 and a 200-day simple moving average of $12.45.

Insider Activity

In other Sharplink Gaming news, CFO Robert Michael Delucia bought 7,440 shares of the company's stock in a transaction on Friday, May 30th. The shares were bought at an average cost of $6.72 per share, for a total transaction of $49,996.80. Following the acquisition, the chief financial officer directly owned 14,107 shares in the company, valued at approximately $94,799.04. The trade was a 111.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rob Phythian bought 44,640 shares of the company's stock in a transaction on Friday, May 30th. The shares were acquired at an average price of $6.72 per share, for a total transaction of $299,980.80. Following the completion of the acquisition, the chief executive officer owned 57,349 shares in the company, valued at $385,385.28. This represents a 351.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 10.50% of the company's stock.

Institutional Trading of Sharplink Gaming

A number of institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC bought a new stake in shares of Sharplink Gaming in the 2nd quarter valued at about $101,000. Qube Research & Technologies Ltd bought a new stake in shares of Sharplink Gaming in the 2nd quarter valued at about $151,000. HUB Investment Partners LLC bought a new stake in shares of Sharplink Gaming in the 2nd quarter valued at about $298,000. JPMorgan Chase & Co. bought a new stake in shares of Sharplink Gaming in the 2nd quarter valued at about $3,229,000. Finally, Anatole Investment Management Ltd bought a new stake in shares of Sharplink Gaming in the 2nd quarter valued at about $6,332,000. 13.75% of the stock is currently owned by 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.

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