Sharplink Gaming (NASDAQ:SBET) Trading Down 7% - What's Next?

Key Points

• Sharplink Gaming's shares dropped 7% during mid-day trading, closing at $19.46, down from a previous close of $20.93.
• The company reported a significant loss with a negative earnings per share (EPS) of ($1.73) and a negative net margin of 94.08% for the last quarter.
• Insider purchases were made by CEO Rob Phythian and CFO Robert Michael Delucia, strengthening their ownership by 351.25% and 111.59% respectively, at an average price of $6.72 per share.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report)'s stock price traded down 7% during mid-day trading on Tuesday . The company traded as low as $19.92 and last traded at $19.46. 6,591,664 shares traded hands during trading, a decline of 34% from the average session volume of 9,983,706 shares. The stock had previously closed at $20.93.

Sharplink Gaming Trading Down 8.9%

The stock's 50-day simple moving average is $24.74 and its 200-day simple moving average is $11.32.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($1.73) earnings per share (EPS) for the quarter. The firm had revenue of $0.74 million for the quarter. Sharplink Gaming had a negative return on equity of 162.25% and a negative net margin of 94.08%.

Insider Activity at Sharplink Gaming

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