Sharplink Gaming (NASDAQ:SBET) Given New $30.00 Price Target at Citizens Jmp

Sharplink Gaming (NASDAQ:SBET) had its price objective reduced by analysts at Citizens Jmp from $40.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price objective points to a potential upside of 473.28% from the stock’s current price.

A number of other equities analysts have also commented on SBET. Wall Street Zen lowered shares of Sharplink Gaming from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Citigroup reissued a “market outperform” rating on shares of Sharplink Gaming in a report on Thursday. Alliance Global Partners restated a “buy” rating on shares of Sharplink Gaming in a research report on Monday, May 11th. Cantor Fitzgerald lowered their target price on shares of Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Finally, HC Wainwright started coverage on shares of Sharplink Gaming in a research report on Tuesday, April 7th. They issued a “buy” rating and a $10.00 price target for the company. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sharplink Gaming presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.23.

Sharplink Gaming Trading Down 3.6%

SBET stock traded down $0.20 during trading hours on Thursday, hitting $5.23. 1,128,312 shares of the stock were exchanged, compared to its average volume of 7,845,752. The firm has a market capitalization of $1.06 billion, a P/E ratio of -8.74 and a beta of 10.45. The company has a 50-day simple moving average of $5.98 and a two-hundred day simple moving average of $7.29. Sharplink Gaming has a 12 month low of $4.46 and a 12 month high of $40.46.

Sharplink Gaming (NASDAQ:SBET) last posted its earnings results on Friday, May 8th. The company reported ($3.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). The firm had revenue of $12.06 million for the quarter, compared to analyst estimates of $14.60 million. Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.During the same period in the prior year, the business posted ($1.84) EPS. On average, equities research analysts predict that Sharplink Gaming will post 0.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Leslie Bernhard sold 12,892 shares of the 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 sale, the director owned 24,998 shares in the company, valued at approximately $185,235.18. This trade represents a 34.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Obie Mckenzie sold 12,892 shares of Sharplink Gaming 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 transaction, the director directly owned 24,998 shares in the company, valued at $185,235.18. This trade represents a 34.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 38,676 shares of company stock worth $286,589. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Sharplink Gaming

Several institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in Sharplink Gaming in the third quarter valued at about $49,000. Empowered Funds LLC acquired a new position in Sharplink Gaming during the fourth quarter worth about $56,000. Independent Financial Group LLC bought a new position in shares of Sharplink Gaming in the first quarter worth about $65,000. Koshinski Asset Management Inc. bought a new position in Sharplink Gaming in the 1st quarter valued at approximately $71,000. Finally, SummitTX Capital L.P. acquired a new stake in Sharplink Gaming in the first quarter valued at approximately $73,000. 13.75% of the stock is currently owned by institutional investors.

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.