Sharplink Gaming (NASDAQ:SBET) Shares Gap Down – Should You Sell?

Sharplink Gaming Inc. (NASDAQ:SBET) shares gapped down before the market opened on Monday . The stock had previously closed at $13.84, but opened at $13.20. Sharplink Gaming shares last traded at $12.7470, with a volume of 2,470,677 shares.

Analyst Upgrades and Downgrades

SBET has been the topic of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of Sharplink Gaming in a research report on Wednesday, October 8th. Citizens Jmp initiated coverage on shares of Sharplink Gaming in a research report on Thursday, October 16th. They set a “mkt outperform” rating and a $50.00 target price on the stock. B. Riley initiated coverage on shares of Sharplink Gaming in a research report on Wednesday, October 15th. They set a “buy” rating and a $32.00 target price on the stock. JMP Securities initiated coverage on shares of Sharplink Gaming in a research report on Thursday, October 16th. They set a “market outperform” rating and a $50.00 target price on the stock. Finally, Sanford C. Bernstein started coverage on shares of Sharplink Gaming in a research report on Friday. They set an “outperform” rating and a $24.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sharplink Gaming currently has an average rating of “Moderate Buy” and a consensus price target of $40.80.

Sharplink Gaming Stock Down 5.7%

The business has a fifty day simple moving average of $16.34 and a 200 day simple moving average of $17.33. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -2.61 and a beta of 10.01.

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

Insider Buying and Selling at Sharplink Gaming

In other news, Director Robert M. Gutkowski sold 18,334 shares of Sharplink Gaming stock in a transaction on Monday, August 18th. The stock was sold at an average price of $19.17, for a total transaction of $351,462.78. Following the completion of the transaction, the director owned 24,998 shares of the company’s stock, valued at $479,211.66. The trade was a 42.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Leslie Bernhard sold 18,334 shares of Sharplink Gaming 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 transaction, the director directly owned 24,998 shares of the company’s stock, valued at $479,211.66. This trade represents a 42.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 55,002 shares of company stock valued at $1,054,388. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SBET. PFG Investments LLC acquired a new position in Sharplink Gaming in the 3rd quarter valued at about $171,000. Wealth Enhancement Advisory Services LLC acquired a new position in Sharplink Gaming in the 3rd quarter valued at about $2,190,000. APEIRON CAPITAL Ltd acquired a new position in Sharplink Gaming in the 3rd quarter valued at about $23,038,000. SLT Holdings LLC acquired a new position in Sharplink Gaming in the 3rd quarter valued at about $435,000. Finally, Ethos Financial Group LLC acquired a new position in Sharplink Gaming in the 3rd quarter valued at about $248,000. 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.