Sharplink Gaming Inc. (NASDAQ:SBET) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $32.2857.

SBET has been the topic of several research analyst reports. Industrial Alliance Securities set a $20.00 target price on Sharplink Gaming in a research note on Wednesday, January 7th. Cantor Fitzgerald began coverage on shares of Sharplink Gaming in a report on Monday, January 5th. They set an “overweight” rating and a $15.00 price target for the company. JMP Securities assumed coverage on shares of Sharplink Gaming in a research report on Thursday, October 16th. They set a “market outperform” rating and a $50.00 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. Finally, Sanford C. Bernstein initiated coverage on shares of Sharplink Gaming in a research note on Friday, October 31st. They set an “outperform” rating and a $24.00 target price for the company.

Sharplink Gaming Stock Down 0.2%

Shares of Sharplink Gaming stock opened at $9.97 on Thursday. Sharplink Gaming has a 12 month low of $2.26 and a 12 month high of $124.12. The stock has a market cap of $1.96 billion, a PE ratio of -4.17 and a beta of 11.12. The business has a fifty day simple moving average of $10.03 and a 200-day simple moving average of $15.09.

Institutional Trading of Sharplink Gaming

A number of institutional investors have recently bought and sold shares of SBET. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sharplink Gaming by 23.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,600 shares of the company’s stock worth $139,000 after purchasing an additional 2,946 shares during the last quarter. Signaturefd LLC grew its stake in shares of Sharplink Gaming by 162.2% in the 4th quarter. Signaturefd LLC now owns 57,550 shares of the company’s stock valued at $514,000 after buying an additional 35,600 shares in the last quarter. Formidable Asset Management LLC acquired a new position in Sharplink Gaming in the fourth quarter worth approximately $171,000. Abacus Planning Group Inc. bought a new position in Sharplink Gaming during the fourth quarter valued at approximately $94,000. Finally, IFP Advisors Inc bought a new position in Sharplink Gaming during the third quarter valued at approximately $102,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

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.