Sharplink Gaming (NASDAQ:SBET) Director Sells $95,529.72 in 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 value of $95,529.72. Following 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Sharplink Gaming Stock Performance

Shares of NASDAQ:SBET opened at $6.72 on Monday. The stock’s 50-day moving average price is $7.19 and its 200-day moving average price is $8.74. Sharplink Gaming Inc. has a 12-month low of $2.58 and a 12-month high of $124.12. The stock 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 announced its quarterly earnings data 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). Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. The company had revenue of $12.06 million for the quarter, compared to the consensus estimate of $14.60 million. During the same period last year, the business posted ($1.84) earnings per share. As a group, research analysts predict that Sharplink Gaming Inc. will post 0.15 EPS for the current year.

Institutional Trading of Sharplink Gaming

A number of institutional investors have recently modified their holdings of SBET. Ausdal Financial Partners Inc. lifted its holdings in Sharplink Gaming by 16.1% in the fourth quarter. Ausdal Financial Partners Inc. now owns 11,606 shares of the company’s stock worth $104,000 after buying an additional 1,606 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Sharplink Gaming by 4.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 45,305 shares of the company’s stock worth $405,000 after buying an additional 1,838 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Sharplink Gaming in the third quarter worth about $49,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sharplink Gaming by 23.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,600 shares of the company’s stock worth $139,000 after buying an additional 2,946 shares during the period. Finally, Arete Wealth Advisors LLC lifted its holdings in Sharplink Gaming by 6.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 55,249 shares of the company’s stock worth $494,000 after buying an additional 3,585 shares during the period. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SBET. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. Cantor Fitzgerald raised Sharplink Gaming to a “strong-buy” rating in a research note on Thursday, April 9th. 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 reduced their price objective on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Finally, TD Cowen assumed coverage on shares of Sharplink Gaming in a report on Friday, April 10th. They set a “buy” rating and a $16.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Sharplink Gaming has an average rating of “Moderate Buy” and an average price target of $22.11.

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.