Sharplink Gaming (NASDAQ:SBET) Trading Up 13.4% - What's Next?

Key Points

• Sharplink Gaming's stock surged by 13.4% to $27.13, with trading volume increasing by 215% compared to its average daily volume.
• The company reported an earnings per share (EPS) of ($1.73) for the last quarter, accompanied by revenue of $0.74 million and a negative return on equity of 162.25%.
• Insider trading saw CFO Robert Michael Delucia and CEO Rob Phythian significantly increase their stakes in the company, with their purchases leading to 111.59% and 351.25% increases in their holdings, respectively.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) was up 13.4% during trading on Monday . The stock traded as high as $27.68 and last traded at $27.13. Approximately 37,690,629 shares changed hands during mid-day trading, an increase of 215% from the average daily volume of 11,966,495 shares. The stock had previously closed at $23.92.

Sharplink Gaming Stock Down 4.1%

The firm has a 50 day simple moving average of $22.43 and a 200 day simple moving average of $11.95.

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

Insider Transactions at Sharplink Gaming

In other Sharplink Gaming news, CFO Robert Michael Delucia purchased 7,440 shares of the company's stock in a transaction dated Friday, May 30th. The stock was purchased at an average price of $6.72 per share, for a total transaction of $49,996.80. Following the transaction, the chief financial officer owned 14,107 shares in the company, valued at $94,799.04. The trade was a 111.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Rob Phythian purchased 44,640 shares of the company's stock in a transaction dated Friday, May 30th. The shares were acquired at an average price of $6.72 per share, with a total value of $299,980.80. Following the transaction, the chief executive officer owned 57,349 shares in the company, 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. Company insiders own 10.50% of the company's stock.

Institutional Trading of Sharplink Gaming

A hedge fund recently bought a new stake in Sharplink Gaming stock. Thames Capital Management LLC acquired a new stake in Sharplink Gaming Inc. (NASDAQ:SBET - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 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 as of its most recent filing with the Securities & Exchange Commission. 13.75% of the stock is owned by hedge funds and other institutional investors.

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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