Sharplink Gaming (NASDAQ:SBET) Now Covered by Analysts at Citizens Jmp

Key Points

• Analysts at Citizens Jmp have initiated coverage on Sharplink Gaming (NASDAQ:SBET) with a rating of "mkt outperform" and a price target of $50.00, indicating a potential upside of 230.03% from its previous close.
• Multiple research firms have issued ratings on the stock, with a consensus rating of "Moderate Buy" and a target price averaging $45.00.
• Sharplink Gaming reported a negative earnings per share of ($0.64) for the latest quarter and has a significant insider trading activity, with directors recently selling shares that represent a 42.31% decrease in their holdings.

Equities researchers at Citizens Jmp started coverage on shares of Sharplink Gaming (NASDAQ:SBET - Get Free Report) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a "mkt outperform" rating and a $50.00 price target on the stock. Citizens Jmp's target price would suggest a potential upside of 230.03% from the stock's previous close.

Several other research analysts also recently weighed in on SBET. Alliance Global Partners initiated coverage on shares of Sharplink Gaming in a research note on Tuesday, August 26th. They issued a "buy" rating and a $48.00 target price for the company. B. Riley initiated coverage on shares of Sharplink Gaming in a research note on Wednesday. They issued a "buy" rating and a $32.00 target price for the company. JMP Securities initiated coverage on shares of Sharplink Gaming in a research note on Thursday. They issued a "market outperform" rating and a $50.00 target price for the company. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Sharplink Gaming in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.00.

Sharplink Gaming Stock Performance

Sharplink Gaming stock opened at $15.15 on Thursday. Sharplink Gaming has a 1 year low of $2.26 and a 1 year high of $124.12. The firm has a 50 day moving average price of $18.11 and a 200 day moving average price of $16.15.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last released its 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 during the quarter.

Insider Buying and Selling

In related news, Director Robert M. Gutkowski sold 18,334 shares of the 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leslie Bernhard sold 18,334 shares of the 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 sale, the director directly owned 24,998 shares in the company, valued at approximately $479,211.66. This trade represents a 42.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,002 shares of company stock valued at $1,054,388 in the last quarter. Company insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Sharplink Gaming

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC bought a new position in Sharplink Gaming in the 2nd quarter valued at about $101,000. Qube Research & Technologies Ltd bought a new position in Sharplink Gaming in the 2nd quarter valued at about $151,000. S.A. Mason LLC bought a new position in Sharplink Gaming in the 3rd quarter valued at about $249,000. HUB Investment Partners LLC bought a new position in Sharplink Gaming in the 2nd quarter valued at about $298,000. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new position in Sharplink Gaming in the 3rd quarter valued at about $407,000. Institutional investors own 13.75% of the company's stock.

About Sharplink Gaming

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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