Sharplink Gaming (NASDAQ:SBET) Shares Gap Down - Should You Sell?

Key Points

• Shares gapped down Monday—after closing at $7.99 the stock opened at $7.60 and last traded around $7.635 with about 1.12 million shares changing hands.
• Analysts are mixed but generally positive: the consensus rating is a "Moderate Buy" with an average target price of $22.11 (1 Strong Buy, 7 Buy, 1 Hold, 1 Sell).
• Recent results were mixed: Sharplink reported $0.06 EPS (beating the -$0.05 estimate) but missed revenue at $13.31M vs. $17.19M, and shows very weak profitability metrics and high volatility (beta ~11.31).

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $7.99, but opened at $7.60. Sharplink Gaming shares last traded at $7.6350, with a volume of 1,118,570 shares changing hands.

Wall Street Analyst Weigh In

SBET has been the subject of a number of recent research reports. TD Cowen initiated coverage on Sharplink Gaming in a report on Friday, April 10th. They issued a "buy" rating and a $16.00 price objective for the company. Weiss Ratings restated a "sell (d)" rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. Wall Street Zen upgraded Sharplink Gaming from a "sell" rating to a "hold" rating in a report on Saturday, March 14th. HC Wainwright initiated coverage on Sharplink Gaming in a report on Tuesday, April 7th. They issued a "buy" rating and a $10.00 price objective for the company. Finally, Citizens Jmp decreased their price objective on Sharplink Gaming from $50.00 to $40.00 and set a "market outperform" rating for the company in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sharplink Gaming has an average rating of "Moderate Buy" and a consensus target price of $22.11.

Sharplink Gaming Price Performance

The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -3.16 and a beta of 11.31. The stock has a fifty day moving average of $7.04 and a two-hundred day moving average of $9.80.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last issued its quarterly earnings results on Friday, March 6th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.11. Sharplink Gaming had a negative return on equity of 50.72% and a negative net margin of 2,618.38%.The firm had revenue of $13.31 million during the quarter, compared to the consensus estimate of $17.19 million.

Institutional Trading of Sharplink Gaming

A number of large investors have recently bought and sold shares of SBET. Caitong International Asset Management Co. Ltd acquired a new stake in Sharplink Gaming during the 3rd quarter worth about $49,000. Empowered Funds LLC acquired a new stake in Sharplink Gaming during the 4th quarter worth about $56,000. R Squared Ltd acquired a new stake in Sharplink Gaming during the 4th quarter worth about $90,000. Abacus Planning Group Inc. acquired a new stake in Sharplink Gaming during the 4th quarter worth about $94,000. Finally, CI Investments Inc. acquired a new stake in Sharplink Gaming during the 4th quarter worth about $100,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

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. It operates a performance marketing platform, which owns and operates state-specific web domains to attract, acquire, and drive local sports betting and casino traffic directly to the company's sportsbook and casino partners, which are licensed to operate in each respective state; and offers sports betting data to sports media publishers.

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