Sharplink Gaming Sees Unusually High Options Volume (NASDAQ:SBET)

Sharplink Gaming Inc. (NASDAQ:SBET) was the target of some unusual options trading activity on Monday. Traders bought 34,224 call options on the company. This represents an increase of approximately 20% compared to the average volume of 28,476 call options.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. Cantor Fitzgerald upgraded shares of Sharplink Gaming to a “strong-buy” rating in a research note on Thursday, April 9th. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price objective on shares of Sharplink Gaming in a research note on Tuesday, March 17th. iA Financial set a $20.00 price objective on shares of Sharplink Gaming in a research note on Wednesday, January 7th. Finally, Wall Street Zen upgraded shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.11.

Sharplink Gaming Stock Down 5.3%

NASDAQ:SBET traded down $0.43 during trading hours on Monday, reaching $7.57. 5,268,797 shares of the company’s stock were exchanged, compared to its average volume of 7,128,677. The company has a market capitalization of $1.49 billion, a P/E ratio of -3.17 and a beta of 11.31. Sharplink Gaming has a 12 month low of $2.26 and a 12 month high of $124.12. The business’s 50-day simple moving average is $7.04 and its two-hundred day simple moving average is $9.80.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly earnings data on Friday, March 6th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. Sharplink Gaming had a negative net margin of 2,618.38% and a negative return on equity of 50.72%. The firm had revenue of $13.31 million during the quarter, compared to analyst estimates of $17.19 million.

Hedge Funds Weigh In On Sharplink Gaming

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. APEIRON CAPITAL Ltd acquired a new position in Sharplink Gaming in the 3rd quarter worth approximately $23,038,000. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Sharplink Gaming in the 3rd quarter worth approximately $30,812,000. Wealth Enhancement Advisory Services LLC acquired a new position in Sharplink Gaming in the 3rd quarter worth approximately $2,190,000. BIT Capital GmbH boosted its stake in Sharplink Gaming by 103.5% in the 3rd quarter. BIT Capital GmbH now owns 1,215,819 shares of the company’s stock worth $20,681,000 after purchasing an additional 618,508 shares during the period. Finally, MMCAP International Inc. SPC acquired a new position in Sharplink Gaming in the 3rd quarter worth approximately $8,483,000. 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. 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.