Sharplink Gaming (NASDAQ:SBET) Shares Gap Up - Should You Buy?

Key Points

• Sharplink Gaming's stock price opened at $24.00 after previously closing at $22.33, indicating a significant price gap.
• The company reported a negative earnings per share of ($1.73) with a net margin of –94.08% in its latest quarterly earnings announcement.
• CEO Rob Phythian made a significant insider purchase of 44,640 shares at an average price of $6.72 per share, increasing his ownership by 351.25%.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $22.33, but opened at $24.00. Sharplink Gaming shares last traded at $21.94, with a volume of 18,780,943 shares traded.

Sharplink Gaming Stock Performance

The firm has a fifty day simple moving average of $21.77 and a two-hundred day simple moving average of $12.07.

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

Insider Buying and Selling

In other Sharplink Gaming news, CEO Rob Phythian acquired 44,640 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, with a total value of $299,980.80. Following the completion of the acquisition, the chief executive officer owned 57,349 shares in the company, valued at approximately $385,385.28. This trade represents a 351.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, 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 bought at an average price of $6.72 per share, with a total value of $49,996.80. Following the transaction, the chief financial officer 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 disclosure for this purchase can be found here. Insiders own 10.50% of the company's stock.

Institutional Investors Weigh In On Sharplink Gaming

An institutional investor recently bought a new position in Sharplink Gaming stock. Thames Capital Management LLC purchased a new position in shares of Sharplink Gaming Inc. (NASDAQ:SBET - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 157,748 shares of the company's stock, valued at approximately $1,566,000. Thames Capital Management LLC owned about 0.16% of Sharplink Gaming at the end of the most recent reporting period. 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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