Sharplink Gaming (NASDAQ:SBET) Price Target Lowered to $30.00 at Citizens Jmp

Sharplink Gaming (NASDAQ:SBET) had its target price cut by Citizens Jmp to $30.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a market outperform rating on the stock.

SBET has been the topic of a number of other reports. Wall Street Zen cut Sharplink Gaming from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. TD Cowen initiated coverage on shares of Sharplink Gaming in a research report on Friday, April 10th. They issued a “buy” rating and a $16.00 target price for the company. Weiss Ratings upgraded shares of Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. HC Wainwright initiated coverage on Sharplink Gaming in a research report on Tuesday, April 7th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Cantor Fitzgerald reduced their price target on Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sharplink Gaming currently has a consensus rating of “Moderate Buy” and an average target price of $20.23.

Sharplink Gaming Stock Down 2.0%

SBET opened at $5.32 on Thursday. The company’s 50-day moving average price is $5.94 and its 200 day moving average price is $7.25. Sharplink Gaming has a fifty-two week low of $4.46 and a fifty-two week high of $40.46. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -8.87 and a beta of 10.45.

Sharplink Gaming (NASDAQ:SBET) last issued its earnings results on Friday, May 8th. The company reported ($3.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). The company had revenue of $12.06 million during the quarter, compared to analyst estimates of $14.60 million. Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. During the same quarter in the previous year, the firm earned ($1.84) earnings per share. Research analysts anticipate that Sharplink Gaming will post 0.11 earnings per share for the current year.

Insider Buying and Selling

In other Sharplink Gaming news, Director Robert M. Gutkowski sold 12,892 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total value of $95,529.72. Following the transaction, the director owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. This represents a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Obie Mckenzie sold 12,892 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total value of $95,529.72. Following the sale, the director directly owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. This represents a 34.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 38,676 shares of company stock valued at $286,589 over the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Sharplink Gaming

A number of hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sharplink Gaming during the third quarter valued at approximately $49,000. IFP Advisors Inc acquired a new position in Sharplink Gaming in the 3rd quarter worth approximately $102,000. Empowered Funds LLC purchased a new position in Sharplink Gaming during the 4th quarter worth approximately $56,000. Independent Financial Group LLC purchased a new position in Sharplink Gaming during the 1st quarter worth approximately $65,000. Finally, R Squared Ltd acquired a new stake in Sharplink Gaming during the 4th quarter valued at $90,000. 13.75% of the stock is owned by hedge funds and other institutional investors.

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.