Shares of Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) were up 5.6% during trading on Friday . The company traded as high as $17.02 and last traded at $17.27. Approximately 2,855,842 shares traded hands during trading, a decline of 82% from the average daily volume of 15,629,703 shares. The stock had previously closed at $16.36.
Wall Street Analyst Weigh In
Separately, Alliance Global Partners started coverage on shares of Sharplink Gaming in a report on Tuesday, August 26th. They set a "buy" rating and a $48.00 target price for the company. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Sharplink Gaming has an average rating of "Buy" and an average target price of $48.00.
Check Out Our Latest Stock Analysis on SBET
Sharplink Gaming Price Performance
The stock's 50-day simple moving average is $20.65 and its two-hundred day simple moving average is $14.03.
Sharplink Gaming (NASDAQ:SBET - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.64) earnings per share for the quarter. Sharplink Gaming had a negative return on equity of 15.93% and a negative net margin of 3,377.39%.The company had revenue of $0.70 million for the quarter.
Insider Buying and Selling
In related news, Director Robert M. Gutkowski 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 transaction of $351,462.78. Following the completion of the transaction, the director owned 24,998 shares in the company, valued at approximately $479,211.66. This represents a 42.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Obie Mckenzie sold 18,334 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $19.17, for a total transaction of $351,462.78. Following the transaction, the director owned 24,998 shares of the company's stock, valued at approximately $479,211.66. This represents a 42.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,002 shares of company stock worth $1,054,388. 3.40% of the stock is owned by insiders.
Hedge Funds Weigh In On Sharplink Gaming
Several institutional investors have recently bought and sold shares of SBET. Thames Capital Management LLC bought a new position in Sharplink Gaming during the second quarter valued at $1,566,000. JPMorgan Chase & Co. bought a new position in Sharplink Gaming during the second quarter valued at $3,229,000. XTX Topco Ltd lifted its position in Sharplink Gaming by 509.9% during the second 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. Marshall Wace LLP purchased a new stake in shares of Sharplink Gaming in the second quarter valued at $26,852,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Sharplink Gaming in the second quarter valued at $151,000. Institutional investors own 13.75% of the company's stock.
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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