Short Interest in Sharplink Gaming Inc. (NASDAQ:SBET) Increases By 100.0%

Key Points

• Short interest in Sharplink Gaming Inc. increased by 100.0% in July, totaling 10,760,000 shares, representing approximately 10.8% of the company's stock.
• CEO Rob Phythian and CFO Robert Michael Delucia both purchased shares recently, with Phythian increasing his ownership by 351.25% and Delucia by 111.59%.
• Despite the recent surge in short interest, Sharplink Gaming's stock is currently down 15.5%, trading at $19.85 and showing significant volatility over the past year.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 10,760,000 shares, agrowthof100.0% from the July 15th total of 5,380,000 shares. Approximately10.8% of the shares of the stock are sold short. Based on an average trading volume of 28,910,000 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 28,910,000 shares, the short-interest ratio is currently 0.4 days. Approximately10.8% of the shares of the stock are sold short.

Insider Activity at Sharplink Gaming

In related news, CEO Rob Phythian purchased 44,640 shares of the firm's stock in a transaction on Friday, May 30th. The shares were bought at an average cost of $6.72 per share, for a total transaction of $299,980.80. Following the transaction, the chief executive officer directly owned 57,349 shares of the company's stock, valued at approximately $385,385.28. This trade represents a 351.25% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Michael Delucia bought 7,440 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were acquired at an average price of $6.72 per share, for a total transaction of $49,996.80. Following the completion of the transaction, the chief financial officer owned 14,107 shares in the company, valued at $94,799.04. This represents a 111.59% 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

Large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC bought a new stake in shares of Sharplink Gaming in the 2nd quarter worth approximately $101,000. Qube Research & Technologies Ltd purchased a new position in Sharplink Gaming during the 2nd quarter valued at $151,000. HUB Investment Partners LLC purchased a new stake in Sharplink Gaming in the second quarter worth about $298,000. XTX Topco Ltd raised its stake 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 buying an additional 92,189 shares during the last quarter. Finally, Thames Capital Management LLC bought a new position in Sharplink Gaming in the 2nd quarter worth about $1,566,000. Hedge funds and other institutional investors own 13.75% of the company's stock.

Sharplink Gaming Trading Down 15.5%

Shares of SBET stock opened at $19.85 on Friday. The company has a fifty day moving average price of $19.69 and a two-hundred day moving average price of $12.50. Sharplink Gaming has a one year low of $2.26 and a one year high of $124.12.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last released 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 885.79% and a negative net margin of 3,377.39%. The business had revenue of $0.70 million for the quarter.

About Sharplink Gaming

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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