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

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $27.4286.

Several research analysts have issued reports on the company. Canaccord Genuity Group set a $16.00 price objective on Sharplink Gaming and gave the stock a “buy” rating in a research report on Thursday, January 29th. iA Financial set a $20.00 price objective on shares of Sharplink Gaming in a research note on Wednesday, January 7th. Cantor Fitzgerald started coverage on shares of Sharplink Gaming in a report on Monday, January 5th. They set an “overweight” rating and a $15.00 price objective on the stock. B. Riley Financial dropped their target price on shares of Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Finally, Sanford C. Bernstein started coverage on shares of Sharplink Gaming in a research report on Friday, October 31st. They set an “outperform” rating and a $24.00 price target for the company.

Sharplink Gaming Trading Down 1.2%

Shares of SBET stock opened at $6.72 on Monday. The stock has a 50 day simple moving average of $8.88 and a 200-day simple moving average of $12.98. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -2.81 and a beta of 11.28. Sharplink Gaming has a 12-month low of $2.26 and a 12-month high of $124.12.

Hedge Funds Weigh In On Sharplink Gaming

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new stake in shares of Sharplink Gaming during the second quarter worth $26,852,000. APEIRON CAPITAL Ltd purchased a new position in shares of Sharplink Gaming in the 3rd quarter worth about $23,038,000. XTX Topco Ltd lifted its position in Sharplink Gaming by 509.9% during the second quarter. XTX Topco Ltd now owns 110,270 shares of the company’s stock valued at $1,095,000 after buying an additional 92,189 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Sharplink Gaming in the third quarter worth $30,812,000. Finally, Thames Capital Management LLC acquired a new stake in Sharplink Gaming in the 2nd quarter valued at $1,566,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

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.