Key Points
- Director Joseph Michael Lubin sold 5,676,952 Sharplink Gaming shares at an average price of $8.39, generating approximately $47.6 million in proceeds.
- Sharplink shares were trading near $8.41, with a market capitalization of $1.83 billion; the company recently reported a quarterly loss of $1.88 per share and revenue of $11.53 million, below expectations.
- Analyst sentiment remains mixed but averages a “Moderate Buy” rating, with a consensus price target of $17.00, while institutional investors own 13.75% of the stock.
Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) Director Joseph Michael Lubin sold 5,676,952 shares of the stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $8.39, for a total value of $47,629,627.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Sharplink Gaming Trading Down 0.9%
Sharplink Gaming stock opened at $8.41 on Wednesday. Sharplink Gaming Inc. has a 12 month low of $4.46 and a 12 month high of $16.20. The stock has a fifty day simple moving average of $8.31 and a two-hundred day simple moving average of $6.95. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 168.20 and a beta of 10.60.
Sharplink Gaming (NASDAQ:SBET - Get Free Report) last issued its earnings results on Saturday, August 8th. The company reported ($1.88) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($1.89). Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%. The business had revenue of $11.53 million during the quarter, compared to analysts' expectations of $12.26 million. On average, equities research analysts forecast that Sharplink Gaming Inc. will post 0.12 EPS for the current fiscal year.
Analysts Set New Price Targets
SBET has been the subject of a number of research reports. Wall Street Zen raised shares of Sharplink Gaming from a "strong sell" rating to a "sell" rating in a report on Sunday, August 30th. Canaccord Genuity Group dropped their price target on shares of Sharplink Gaming from $16.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday, August 18th. Cantor Fitzgerald boosted their price objective on shares of Sharplink Gaming from $8.30 to $17.00 and gave the company an "overweight" rating in a research report on Thursday, September 10th. B. Riley Financial reissued a "buy" rating and set a $14.00 price objective (up from $12.00) on shares of Sharplink Gaming in a research report on Tuesday, September 22nd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Sharplink Gaming in a research note on Friday, October 2nd. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $17.00.
Get Our Latest Analysis on SBET
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in Sharplink Gaming in the 1st quarter worth $11,691,000. SG Americas Securities LLC increased its holdings in shares of Sharplink Gaming by 332.9% in the first quarter. SG Americas Securities LLC now owns 758,022 shares of the company's stock worth $4,889,000 after purchasing an additional 582,919 shares during the last quarter. Lakewood Capital Management LP bought a new stake in shares of Sharplink Gaming in the second quarter worth about $2,683,000. Bank of New York Mellon Corp purchased a new stake in shares of Sharplink Gaming during the 2nd quarter worth approximately $2,488,000. Finally, Weiss Asset Management LP raised its stake in Sharplink Gaming by 19.1% during 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 in the last quarter. 13.75% of the stock is owned by hedge funds and other institutional investors.
Sharplink Gaming Company Profile
(
Get Free Report)
SharpLink Gaming Ltd. (NASDAQ: SBET) is a technology and digital marketing company serving the online sports betting and iGaming industries. Its platform is designed to help sportsbook and casino operators acquire, engage and retain customers through performance marketing, affiliate partnerships, data-driven campaigns and conversion tools.
The company has historically focused on connecting sports audiences with licensed online betting and gaming operators, supporting customer referral programs and related marketing initiatives.
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