Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $15.67, but opened at $16.42. Sharplink Gaming shares last traded at $16.09, with a volume of 9,070,861 shares.
Wall Street Analyst Weigh In
Separately, Alliance Global Partners assumed coverage on Sharplink Gaming in a research note on Tuesday, August 26th. They issued a "buy" rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $48.00.
Check Out Our Latest Stock Analysis on SBET
Sharplink Gaming Price Performance
The company has a 50-day moving average price of $20.75 and a two-hundred day moving average price of $14.12.
Sharplink Gaming (NASDAQ:SBET - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.64) EPS for the quarter. Sharplink Gaming had a negative return on equity of 15.93% and a negative net margin of 3,377.39%.The business had revenue of $0.70 million for the quarter.
Insider Buying and Selling
In other news, Director Obie Mckenzie sold 18,334 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $19.17, for a total value of $351,462.78. Following the completion of the transaction, the director directly owned 24,998 shares in the company, valued at approximately $479,211.66. This represents a 42.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leslie Bernhard sold 18,334 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $19.17, for a total value of $351,462.78. Following the completion of the transaction, the director owned 24,998 shares of the company's stock, valued at $479,211.66. The trade was a 42.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,002 shares of company stock worth $1,054,388 over the last ninety days. 3.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Sharplink Gaming
Several institutional investors have recently bought and sold shares of SBET. Marshall Wace LLP purchased a new stake in Sharplink Gaming during the 2nd quarter valued at about $26,852,000. Anatole Investment Management Ltd purchased a new stake in Sharplink Gaming during the 2nd quarter valued at about $6,332,000. JPMorgan Chase & Co. bought a new position in Sharplink Gaming during the 2nd quarter valued at approximately $3,229,000. Thames Capital Management LLC bought a new position in Sharplink Gaming during the 2nd quarter valued at approximately $1,566,000. Finally, XTX Topco Ltd raised its position in Sharplink Gaming by 509.9% during the 2nd quarter. XTX Topco Ltd now owns 110,270 shares of the company's stock valued at $1,095,000 after purchasing an additional 92,189 shares during the last quarter. 13.75% of the stock is currently owned by hedge funds and other institutional investors.
About Sharplink Gaming
(
Get Free Report)
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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