Leslie Bernhard Sells 12,892 Shares of Sharplink Gaming (NASDAQ:SBET) Stock

Sharplink Gaming Inc. (NASDAQ:SBET) Director Leslie Bernhard sold 12,892 shares of Sharplink Gaming stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total value of $95,529.72. Following the completion of the sale, the director owned 24,998 shares in the company, valued at $185,235.18. This represents a 34.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Sharplink Gaming Stock Down 9.2%

NASDAQ:SBET opened at $6.72 on Friday. Sharplink Gaming Inc. has a 52 week low of $2.58 and a 52 week high of $124.12. The company has a market capitalization of $1.33 billion, a P/E ratio of -11.20 and a beta of 10.69. The stock’s fifty day moving average is $7.19 and its two-hundred day moving average is $8.78.

Sharplink Gaming (NASDAQ:SBET) last posted its earnings results on Friday, May 8th. The company reported ($3.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. The business had revenue of $12.06 million during the quarter, compared to analysts’ expectations of $14.60 million. During the same quarter in the prior year, the firm earned ($1.84) EPS. Sell-side analysts anticipate that Sharplink Gaming Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SBET. JPMorgan Chase & Co. acquired a new position in Sharplink Gaming during the 2nd quarter worth $3,229,000. Qube Research & Technologies Ltd acquired a new position in Sharplink Gaming during the 2nd quarter worth $151,000. NewEdge Advisors LLC acquired a new position in Sharplink Gaming during the 2nd quarter worth $101,000. HUB Investment Partners LLC acquired a new position in Sharplink Gaming during the 2nd quarter worth $298,000. Finally, Anatole Investment Management Ltd acquired a new position in Sharplink Gaming during the 2nd quarter worth $6,332,000. 13.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBET has been the subject of a number of research reports. B. Riley Financial dropped their price objective on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Wall Street Zen raised Sharplink Gaming from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Sharplink Gaming in a research note on Tuesday, March 17th. Alliance Global Partners reaffirmed a “buy” rating on shares of Sharplink Gaming in a research note on Monday, May 11th. Finally, Citizens Jmp dropped their price objective on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.11.

About Sharplink Gaming

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.