Sharplink Gaming (NASDAQ:SBET) Trading Up 10.5% - Here's Why

Key Points

• SharpLink Gaming shares rose 10.5% to approximately $6.95, with about 3.56 million shares traded—54% below the stock’s average daily volume.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating from 11 firms, although several reduced their price targets. The consensus target is $19.01.
• The company’s latest quarter was weak: it reported a loss of $1.88 per share versus expectations for $0.01 in earnings, while revenue of $11.53 million fell short of the $12.26 million estimate.

Shares of Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) traded up 10.5% on Wednesday . The stock traded as high as $6.81 and last traded at $6.9520. Approximately 3,556,365 shares changed hands during trading, a decline of 54% from the average daily volume of 7,802,887 shares. The stock had previously closed at $6.29.

Wall Street Analyst Weigh In

Several research firms have commented on SBET. TD Cowen restated a "buy" rating and issued a $13.00 price objective (down from $16.00) on shares of Sharplink Gaming in a research report on Friday, July 31st. Canaccord Genuity Group reduced their price target on Sharplink Gaming from $16.00 to $8.00 and set a "buy" rating for the company in a report on Tuesday. Weiss Ratings raised Sharplink Gaming from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 6th. Cantor Fitzgerald cut their price objective on Sharplink Gaming from $10.50 to $8.10 and set an "overweight" rating for the company in a research report on Wednesday, July 1st. Finally, Citigroup restated a "market outperform" rating on shares of Sharplink Gaming in a research report on Thursday, August 13th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.01.

Sharplink Gaming Stock Up 10.9%

The stock has a 50-day simple moving average of $5.74 and a 200 day simple moving average of $6.53. The company has a market cap of $1.52 billion, a PE ratio of 139.30 and a beta of 10.48.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last released its quarterly earnings results on Saturday, August 8th. The company reported ($1.88) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($1.89). The business had revenue of $11.53 million for the quarter, compared to analysts' expectations of $12.26 million. Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%. As a group, research analysts anticipate that Sharplink Gaming Inc. will post 0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sharplink Gaming

A number of hedge funds have recently bought and sold shares of SBET. Caitong International Asset Management Co. Ltd acquired a new stake in Sharplink Gaming during the third quarter worth approximately $49,000. Empowered Funds LLC acquired a new stake in Sharplink Gaming during the 4th quarter worth approximately $56,000. Independent Financial Group LLC acquired a new stake in shares of Sharplink Gaming during the first quarter worth $65,000. Koshinski Asset Management Inc. acquired a new stake in shares of Sharplink Gaming in the 1st quarter worth $71,000. Finally, SummitTX Capital L.P. purchased a new stake in Sharplink Gaming in the 1st quarter valued at approximately $73,000. 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. 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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