Sharplink Gaming (NASDAQ:SBET) Posts Quarterly Earnings Results

Sharplink Gaming (NASDAQ:SBET) posted its quarterly earnings results on Friday. The company reported $3.45 earnings per share for the quarter, FiscalAI reports. Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%. The firm had revenue of $13.46 million for the quarter, compared to analyst estimates of $10.51 million.

Sharplink Gaming Stock Down 2.8%

SBET traded down $0.18 during trading hours on Friday, reaching $6.24. The company’s stock had a trading volume of 10,888,724 shares, compared to its average volume of 8,867,431. Sharplink Gaming has a 52 week low of $4.46 and a 52 week high of $12.58. The company’s 50-day moving average is $8.44 and its 200-day moving average is $7.18.

Insider Buying and Selling

In other Sharplink Gaming news, Director Joseph Lubin sold 5,676,952 shares of the company’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $8.39, for a total value of $47,629,627.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Cantor Fitzgerald increased their price objective on Sharplink Gaming from $8.30 to $17.00 and gave the company an “overweight” rating in a report on Thursday, September 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Sharplink Gaming in a report on Friday, October 2nd. TD Cowen reaffirmed a “buy” rating and set a $13.00 price target (down from $16.00) on shares of Sharplink Gaming in a research report on Friday, July 31st. B. Riley Financial reiterated a “buy” rating and issued a $14.00 price target (up from $12.00) on shares of Sharplink Gaming in a research note on Tuesday, September 22nd. Finally, Wall Street Zen raised shares of Sharplink Gaming from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 30th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Sharplink Gaming Company Profile

SharpLink Gaming Ltd. is a technology and performance-marketing company serving the online sports betting and iGaming industries. The company provides customer-acquisition solutions designed to connect sports fans and gaming audiences with licensed betting and gaming operators through digital marketing, affiliate partnerships and related technology.

SharpLink’s activities have historically focused on the United States and other regulated online gaming markets, where it has supported operators with player acquisition, engagement and retention initiatives.