Sharplink Gaming Target of Unusually High Options Trading (NASDAQ:SBET)

Key Points

• Sharplink Gaming saw a significant increase in options trading, with investors purchasing 131,605 call options, which is a 16% rise compared to average volumes.
• The company's stock price increased to $24.64, with a trading volume of over 53 million shares, far exceeding its average of 11.6 million shares.
• Insider purchases were noted, with CFO Robert Michael Delucia and CEO Rob Phythian increasing their ownership of the stock by 111.59% and 351.25%, respectively, through recent transactions.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) was the target of some unusual options trading on Friday. Stock investors purchased 131,605 call options on the company. Thisrepresentsanincreaseof16% compared to the average volume of 113,386 call options.

Sharplink Gaming Price Performance

Shares of SBET traded up $1.28 during midday trading on Friday, reaching $24.64. 53,205,508 shares of the stock were exchanged, compared to its average volume of 11,650,802. The company's 50 day moving average is $23.42 and its two-hundred day moving average is $11.74. Sharplink Gaming has a 52 week low of $2.26 and a 52 week high of $124.12.

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

Insider Activity at Sharplink Gaming

In other news, CFO Robert Michael Delucia bought 7,440 shares of the 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 acquisition, the chief financial officer owned 14,107 shares of the company's stock, valued at $94,799.04. The trade was a 111.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rob Phythian acquired 44,640 shares of Sharplink Gaming stock in a transaction that occurred on Friday, May 30th. The stock was purchased at an average cost of $6.72 per share, for a total transaction of $299,980.80. Following the completion of the transaction, the chief executive officer directly owned 57,349 shares in the company, valued at $385,385.28. This trade represents a 351.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.50% of the stock is owned by company insiders.

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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