Sharplink Gaming (NASDAQ:SBET) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Sharplink Gaming (NASDAQ:SBET) from a sell rating to a hold rating in a report published on Saturday.

SBET has been the topic of several other research reports. Citizens Jmp decreased their price target on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a report on Wednesday. Canaccord Genuity Group set a $16.00 price objective on Sharplink Gaming and gave the stock a “buy” rating in a report on Thursday, January 29th. Cantor Fitzgerald assumed coverage on shares of Sharplink Gaming in a research report on Monday, January 5th. They set an “overweight” rating and a $15.00 target price on the stock. iA Financial set a $20.00 target price on shares of Sharplink Gaming in a research report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.71.

Sharplink Gaming Stock Performance

NASDAQ:SBET opened at $7.53 on Friday. The stock’s fifty day moving average price is $8.31 and its two-hundred day moving average price is $11.60. Sharplink Gaming has a 52-week low of $2.26 and a 52-week high of $124.12. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -3.15 and a beta of 11.40.

Sharplink Gaming (NASDAQ:SBET) last announced its quarterly earnings data on Monday, March 9th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. The firm had revenue of $13.31 million for the quarter, compared to analyst estimates of $17.19 million. Sharplink Gaming had a negative return on equity of 50.72% and a negative net margin of 2,618.38%.

Institutional Investors Weigh In On Sharplink Gaming

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBET. Thames Capital Management LLC bought a new position in Sharplink Gaming during the second quarter worth about $1,566,000. JPMorgan Chase & Co. acquired a new position in shares of Sharplink Gaming during the 2nd quarter worth about $3,229,000. XTX Topco Ltd increased its stake in shares of Sharplink Gaming by 509.9% in the 2nd quarter. XTX Topco Ltd now owns 110,270 shares of the company’s stock valued at $1,095,000 after acquiring an additional 92,189 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Sharplink Gaming in the 2nd quarter valued at about $26,852,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Sharplink Gaming in the 2nd quarter valued at approximately $151,000. Institutional investors own 13.75% of the company’s stock.

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. 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.