Sharplink Gaming (NASDAQ:SBET) Trading Down 4.9% - Here's Why

Key Points

• Sharplink Gaming Inc. (NASDAQ:SBET) shares fell by 4.9% to $19.84, following a previous close of $20.87, with trading volume down 19% from its average.
• The company reported a loss of ($0.64) per share for its latest quarter, alongside revenue of $0.70 million and a staggering negative net margin of 3,377.39%.
• Recent insider transactions included: Director Leslie Bernhard selling 18,334 shares at $19.17, decreasing their ownership by 42.31%, while CEO Rob Phythian increased ownership by acquiring shares at an average price of $6.72.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) shares were down 4.9% on Monday . The stock traded as low as $19.40 and last traded at $19.84. Approximately 11,852,944 shares traded hands during trading, a decline of 19% from the average daily volume of 14,711,109 shares. The stock had previously closed at $20.87.

Sharplink Gaming Trading Down 4.0%

The firm's 50 day moving average is $18.78 and its two-hundred day moving average is $13.04.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.64) earnings per share for the quarter. The company had revenue of $0.70 million for the quarter. Sharplink Gaming had a negative return on equity of 15.93% and a negative net margin of 3,377.39%.

Insider Transactions at Sharplink Gaming

In other Sharplink Gaming news, Director Leslie Bernhard sold 18,334 shares of the company's stock in a transaction on Monday, August 18th. The shares were 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 in the company, valued at $479,211.66. This represents a 42.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rob Phythian acquired 44,640 shares of the company's stock in a transaction on Friday, May 30th. The shares were purchased at an average cost of $6.72 per share, for a total transaction of $299,980.80. Following the acquisition, 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 disclosure for this purchase can be found here. Insiders sold 55,002 shares of company stock valued at $1,054,388 over the last quarter. 10.50% of the stock is owned by corporate insiders.

Institutional Trading of Sharplink Gaming

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC acquired a new position in shares of Sharplink Gaming during the 2nd quarter worth $101,000. Qube Research & Technologies Ltd purchased a new stake in Sharplink Gaming during the 2nd quarter worth about $151,000. HUB Investment Partners LLC acquired a new position in Sharplink Gaming in the 2nd quarter valued at about $298,000. XTX Topco Ltd lifted its holdings in Sharplink Gaming by 509.9% in 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 in the last quarter. Finally, Thames Capital Management LLC acquired a new stake in shares of Sharplink Gaming during the 2nd quarter worth about $1,566,000. 13.75% of the stock is 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.

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