Sharplink Gaming Inc. (NASDAQ:SBET) Given Average Rating of “Moderate Buy” by Brokerages

Sharplink Gaming Inc. (NASDAQ:SBET) has earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $38.20.

A number of equities research analysts have recently issued reports on the company. JMP Securities initiated coverage on Sharplink Gaming in a research note on Thursday, October 16th. They set a “market outperform” rating and a $50.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research report on Wednesday, October 8th. Alliance Global Partners started coverage on shares of Sharplink Gaming in a research report on Tuesday, August 26th. They issued a “buy” rating and a $48.00 price objective for the company. Sanford C. Bernstein assumed coverage on shares of Sharplink Gaming in a report on Friday, October 31st. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Zacks Research upgraded shares of Sharplink Gaming to a “hold” rating in a research note on Friday, October 17th.

Sharplink Gaming Stock Performance

SBET opened at $11.60 on Wednesday. The business’s 50-day simple moving average is $12.94 and its 200 day simple moving average is $18.76. Sharplink Gaming has a 52-week low of $2.26 and a 52-week high of $124.12. The firm has a market capitalization of $2.28 billion, a PE ratio of -4.85 and a beta of 10.98.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SBET. Caitong International Asset Management Co. Ltd bought a new stake in Sharplink Gaming in the 3rd quarter valued at $49,000. NewEdge Advisors LLC bought a new position in shares of Sharplink Gaming in the second quarter valued at about $101,000. IFP Advisors Inc acquired a new stake in shares of Sharplink Gaming during the 3rd quarter worth about $102,000. Global Retirement Partners LLC bought a new stake in shares of Sharplink Gaming during the 3rd quarter worth about $103,000. Finally, Highbridge Capital Management LLC acquired a new position in Sharplink Gaming in the 3rd quarter valued at about $144,000. 13.75% of the stock is owned by institutional investors and hedge funds.

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.