Sharplink Gaming (NASDAQ:SBET) Director Robert Gutkowski Sells 12,892 Shares of Stock

Sharplink Gaming Inc. (NASDAQ:SBET) Director Robert Gutkowski sold 12,892 shares of the firm’s stock in a transaction dated 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 $185,235.18. This trade represents a 34.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sharplink Gaming Trading Down 9.2%

Shares of SBET opened at $6.72 on Friday. The firm’s 50-day moving average is $7.19 and its two-hundred day moving average is $8.78. Sharplink Gaming Inc. has a twelve month low of $2.58 and a twelve month high of $124.12. The firm has a market capitalization of $1.33 billion, a P/E ratio of -11.20 and a beta of 10.69.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly earnings results on Friday, May 8th. The company reported ($3.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). The company had revenue of $12.06 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted ($1.84) earnings per share. Analysts predict that Sharplink Gaming Inc. will post 0.15 EPS for the current year.

Analyst Ratings Changes

SBET has been the subject of several research analyst reports. Wall Street Zen raised Sharplink Gaming from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. B. Riley Financial lowered their target price on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Citizens Jmp dropped their price target on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating for the company in a research report on Wednesday, March 11th. HC Wainwright began coverage on Sharplink Gaming in a research note on Tuesday, April 7th. They set a “buy” rating and a $10.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sharplink Gaming has an average rating of “Moderate Buy” and a consensus target price of $22.11.

Institutional Investors Weigh In On Sharplink Gaming

Several hedge funds have recently made changes to their positions in SBET. SummitTX Capital L.P. purchased a new stake in shares of Sharplink Gaming in the first quarter valued at $73,000. Weiss Asset Management LP lifted its position 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 worth $19,624,000 after buying an additional 488,247 shares during the period. Galaxy Digital Inc. acquired a new stake in Sharplink Gaming in the 1st quarter worth about $192,000. Renaissance Technologies LLC acquired a new stake in Sharplink Gaming in the 1st quarter worth about $11,691,000. Finally, CI Investments Inc. grew its holdings in Sharplink Gaming by 35.6% in the 1st quarter. CI Investments Inc. now owns 15,135 shares of the company’s stock valued at $98,000 after buying an additional 3,977 shares during the period. Institutional investors and hedge funds 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.