Investors Purchase Large Volume of Call Options on Sharplink Gaming (NASDAQ:SBET)

Key Points

• Traders purchased a significant volume of Sharplink Gaming call options, with 202,155 call options bought, a 50% increase compared to the average daily volume.
• Insider activity included Director Obie Mckenzie selling 18,334 shares, representing a 42.31% reduction in his holdings, while CFO Robert Michael Delucia bought 7,440 shares, increasing his position by 111.59%.
• Sharplink Gaming's stock price rose by 15.7%, and the company reported a quarterly loss of $0.64 EPS, with revenues of $0.70 million.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) was the recipient of some unusual options trading on Friday. Stock traders purchased 202,155 call options on the company. Thisisanincreaseofapproximately50% compared to the average volume of 134,936 call options.

Analyst Ratings Changes

Separately, Alliance Global Partners started coverage on Sharplink Gaming in a report on Tuesday. They issued a "buy" rating and a $48.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Sharplink Gaming has a consensus rating of "Buy" and a consensus target price of $48.00.

Insider Transactions at Sharplink Gaming

In other Sharplink Gaming news, CFO Robert Michael Delucia bought 7,440 shares of the stock in a transaction on Friday, May 30th. The shares were purchased at an average price of $6.72 per share, with a total value of $49,996.80. Following the acquisition, the chief financial officer directly owned 14,107 shares of the company's stock, valued at $94,799.04. This represents a 111.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Obie Mckenzie sold 18,334 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $19.17, for a total value of $351,462.78. Following the completion of the sale, the director directly owned 24,998 shares in the company, valued at $479,211.66. This trade represents a 42.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,002 shares of company stock worth $1,054,388. Insiders own 10.50% of the company's stock.

Institutional Trading of Sharplink Gaming

Several institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC acquired a new stake in shares of Sharplink Gaming during the 2nd quarter worth approximately $101,000. Qube Research & Technologies Ltd acquired a new stake in shares of Sharplink Gaming during the 2nd quarter worth approximately $151,000. HUB Investment Partners LLC acquired a new stake in shares of Sharplink Gaming during the 2nd quarter worth approximately $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 worth $1,095,000 after purchasing an additional 92,189 shares in the last quarter. Finally, Thames Capital Management LLC acquired a new stake in Sharplink Gaming in the 2nd quarter valued at $1,566,000. Institutional investors and hedge funds own 13.75% of the company's stock.

Sharplink Gaming Price Performance

Shares of NASDAQ:SBET traded down $0.81 during trading on Thursday, hitting $18.46. 25,156,796 shares of the stock were exchanged, compared to its average volume of 48,048,096. Sharplink Gaming has a 1-year low of $2.26 and a 1-year high of $124.12. The company's fifty day simple moving average is $19.41 and its 200-day simple moving average is $13.31.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $0.70 million for the quarter.

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.