Key Points
- Director Robert Gutkowski sold 12,892 shares of Sharplink Gaming on May 12 at an average price of $7.41, totaling about $95,530. After the sale, he still held 24,998 shares, a 34.02% reduction in his stake.
- SBET shares were down 9.2% and opened at $6.72, with the stock trading below both its 50-day moving average of $7.19 and 200-day moving average of $8.78.
- Sharplink Gaming reported a wider-than-expected loss in its latest quarter, posting EPS of -$3.25 versus estimates of -$0.62 and revenue of $12.06 million versus $14.60 million expected.
Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) Director Robert Gutkowski sold 12,892 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total transaction of $95,529.72. Following the completion of the sale, the director owned 24,998 shares of the company's stock, valued at approximately $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Sharplink Gaming Stock Down 9.2%
NASDAQ:SBET opened at $6.72 on Friday. The company has a market cap of $1.33 billion, a P/E ratio of -11.20 and a beta of 10.69. Sharplink Gaming Inc. has a fifty-two week low of $2.58 and a fifty-two week high of $124.12. The firm's 50 day moving average is $7.19 and its two-hundred day moving average is $8.78.
Sharplink Gaming (NASDAQ:SBET - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported ($3.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($2.63). The company had revenue of $12.06 million for the quarter, compared to analysts' expectations of $14.60 million. Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. During the same period in the prior year, the firm earned ($1.84) earnings per share. Research analysts forecast that Sharplink Gaming Inc. will post 0.15 earnings per share for the current fiscal year.
Institutional Trading of Sharplink Gaming
Several large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. increased its position in shares of Sharplink Gaming by 70.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,268,673 shares of the company's stock worth $38,162,000 after acquiring an additional 1,769,589 shares during the last quarter. Weiss Asset Management LP boosted its holdings in Sharplink Gaming by 19.1% in the first quarter. Weiss Asset Management LP now owns 3,042,548 shares of the company's stock valued at $19,624,000 after purchasing an additional 488,247 shares during the last quarter. Invesco Ltd. grew its stake in Sharplink Gaming by 165.9% during the 4th quarter. Invesco Ltd. now owns 2,734,052 shares of the company's stock valued at $24,442,000 after purchasing an additional 1,706,011 shares in the last quarter. Vanguard Group Inc. acquired a new stake in Sharplink Gaming during the 3rd quarter valued at approximately $46,447,000. Finally, Voloridge Investment Management LLC increased its holdings in Sharplink Gaming by 344.4% during the 4th quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company's stock worth $24,240,000 after purchasing an additional 2,101,252 shares during the last quarter. 13.75% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have commented on SBET. Alliance Global Partners restated a "buy" rating on shares of Sharplink Gaming in a research note on Monday. B. Riley Financial decreased their target price on Sharplink Gaming from $19.00 to $10.00 and set a "buy" rating for the company in a report on Monday, February 23rd. TD Cowen started coverage on shares of Sharplink Gaming in a research report on Friday, April 10th. They set a "buy" rating and a $16.00 target price for the company. HC Wainwright began coverage on shares of Sharplink Gaming in a report on Tuesday, April 7th. They issued a "buy" rating and a $10.00 price target on the stock. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $16.00 price objective on shares of Sharplink Gaming in a research note on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.11.
Check Out Our Latest Report on Sharplink Gaming
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. It operates a performance marketing platform, which owns and operates state-specific web domains to attract, acquire, and drive local sports betting and casino traffic directly to the company's sportsbook and casino partners, which are licensed to operate in each respective state; and offers sports betting data to sports media publishers.
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