Sharplink Gaming (NASDAQ:SBET) Sees Large Volume Increase – Here’s Why

Sharplink Gaming Inc. (NASDAQ:SBET) shares saw strong trading volume on Friday . 11,959,082 shares traded hands during trading, a decline of 16% from the previous session’s volume of 14,264,898 shares.The stock last traded at $19.89 and had previously closed at $18.04.

Sharplink Gaming Stock Performance

The business has a fifty day moving average of $18.78 and a two-hundred day moving average of $13.00.

Sharplink Gaming (NASDAQ:SBET) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.64) earnings per share (EPS) for the quarter. The firm had revenue of $0.70 million during the quarter. Sharplink Gaming had a negative net margin of 3,377.39% and a negative return on equity of 15.93%.

Insiders Place Their Bets

In related news, Director Obie Mckenzie sold 18,334 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $19.17, for a total value of $351,462.78. Following the completion of the sale, the director directly owned 24,998 shares in the company, valued at $479,211.66. The trade was a 42.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leslie Bernhard sold 18,334 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $19.17, for a total value of $351,462.78. Following the completion of the sale, the director owned 24,998 shares of the company’s stock, valued at $479,211.66. This trade represents a 42.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,002 shares of company stock worth $1,054,388 over the last three months. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Sharplink Gaming

Several institutional investors have recently added to or reduced their stakes in the company. Anatole Investment Management Ltd bought a new stake in shares of Sharplink Gaming during the 2nd quarter valued at $6,332,000. HUB Investment Partners LLC bought a new stake in shares of Sharplink Gaming during the 2nd quarter valued at $298,000. NewEdge Advisors LLC bought a new stake in shares of Sharplink Gaming during the 2nd quarter valued at $101,000. Qube Research & Technologies Ltd bought a new stake in shares of Sharplink Gaming during the 2nd quarter valued at $151,000. Finally, Marshall Wace LLP bought a new stake in shares of Sharplink Gaming during the 2nd quarter valued at $26,852,000. 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.