Sharplink Gaming (NASDAQ:SBET) Trading 8.6% Higher - What's Next?

Key Points

• Shares rose 8.6% intraday to $8.18 on Monday, but trading volume was only about 1.13M shares—an ~84% decline versus the stock's average daily volume of 7.1M.
• Analyst coverage is mixed but leans positive: MarketBeat shows a "Moderate Buy" consensus (1 Strong Buy, 5 Buy, 1 Hold, 1 Sell) with a consensus target of $24.71, even as individual targets range widely (B. Riley cut its target to $10).
• Latest quarter: Sharplink reported a surprising EPS beat of $0.06 vs. an expected ($0.05) but missed revenue at $13.31M vs. $17.19M, and the company still carries extreme negative profitability metrics (net margin -2,618% and negative ROE 50.72%).

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report)'s stock price rose 8.6% during mid-day trading on Monday . The stock traded as high as $8.20 and last traded at $8.18. Approximately 1,126,423 shares traded hands during trading, a decline of 84% from the average daily volume of 7,102,486 shares. The stock had previously closed at $7.53.

Wall Street Analysts Forecast Growth

SBET has been the subject of several recent analyst reports. B. Riley Financial decreased their target price on Sharplink Gaming from $19.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, February 23rd. iA Financial set a $20.00 price objective on Sharplink Gaming in a research note on Wednesday, January 7th. Canaccord Genuity Group set a $16.00 price objective on Sharplink Gaming and gave the stock a "buy" rating in a research report on Thursday, January 29th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Sharplink Gaming from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.71.

Sharplink Gaming Stock Up 8.6%

The business has a 50-day simple moving average of $8.31 and a 200-day simple moving average of $11.54. The stock has a market cap of $1.61 billion, a P/E ratio of -3.42 and a beta of 11.40.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last released its earnings results on Monday, March 9th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.11. The firm had revenue of $13.31 million during the quarter, compared to analyst estimates of $17.19 million. Sharplink Gaming had a negative net margin of 2,618.38% and a negative return on equity of 50.72%.

Institutional Trading of Sharplink Gaming

Several institutional investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in shares of Sharplink Gaming by 165.9% in the 4th quarter. Invesco Ltd. now owns 2,734,052 shares of the company's stock valued at $24,442,000 after purchasing an additional 1,706,011 shares in the last quarter. Empowered Funds LLC bought a new position in Sharplink Gaming during the 4th quarter valued at about $56,000. XTX Topco Ltd bought a new position in Sharplink Gaming during the 4th quarter valued at about $871,000. Voloridge Investment Management LLC boosted its position in Sharplink Gaming by 344.4% in the fourth quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company's stock valued at $24,240,000 after buying an additional 2,101,252 shares in the last quarter. Finally, Torno Capital LLC acquired a new position in Sharplink Gaming in the fourth quarter valued at about $1,480,000. Institutional investors and hedge funds 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. 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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