Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) rose 5.6% during mid-day 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 mid-day trading, a decline of 82% from the average daily volume of 15,629,703 shares. The stock had previously closed at $16.36.
Analyst Upgrades and Downgrades
Separately, Alliance Global Partners began coverage on shares of Sharplink Gaming in a report on Tuesday, August 26th. They issued a "buy" rating and a $48.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Sharplink Gaming currently has a consensus rating of "Buy" and a consensus target price of $48.00.
View Our Latest Research Report on Sharplink Gaming
Sharplink Gaming Trading Down 1.1%
The company has a fifty day moving average of $20.85 and a 200 day moving average of $14.36.
Sharplink Gaming (NASDAQ:SBET - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.64) EPS for the quarter. The firm 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%.
Insiders Place Their Bets
In other Sharplink Gaming news, Director Robert M. Gutkowski sold 18,334 shares of Sharplink Gaming stock in a transaction that occurred 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 transaction, the director directly owned 24,998 shares in the company, valued at approximately $479,211.66. The trade was a 42.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leslie Bernhard sold 18,334 shares of Sharplink Gaming stock in a transaction that occurred 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 in the company, valued at approximately $479,211.66. The trade was a 42.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,002 shares of company stock worth $1,054,388. Corporate insiders own 3.40% of the company's stock.
Hedge Funds Weigh In On Sharplink Gaming
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new position in Sharplink Gaming during the 2nd quarter worth approximately $101,000. Qube Research & Technologies Ltd purchased a new position in shares of Sharplink Gaming during the 2nd quarter valued at $151,000. HUB Investment Partners LLC purchased a new position in shares of Sharplink Gaming during the 2nd quarter valued at $298,000. XTX Topco Ltd grew its holdings in shares of Sharplink Gaming by 509.9% during the 2nd quarter. XTX Topco Ltd now owns 110,270 shares of the company's stock valued at $1,095,000 after acquiring an additional 92,189 shares in the last quarter. Finally, Thames Capital Management LLC purchased a new position in shares of Sharplink Gaming during the 2nd quarter valued at $1,566,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.
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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