Weiss Ratings Reiterates “Sell (D)” Rating for Sharplink Gaming (NASDAQ:SBET)

Sharplink Gaming (NASDAQ:SBET)‘s stock had its “sell (d)” rating reaffirmed by research analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

Several other equities analysts have also commented on SBET. Citizens Jmp began coverage on Sharplink Gaming in a report on Thursday, October 16th. They issued a “mkt outperform” rating and a $50.00 target price on the stock. B. Riley assumed coverage on Sharplink Gaming in a report on Wednesday, October 15th. They issued a “buy” rating and a $32.00 target price on the stock. Alliance Global Partners assumed coverage on Sharplink Gaming in a report on Tuesday, August 26th. They set a “buy” rating and a $48.00 price objective on the stock. JMP Securities assumed coverage on Sharplink Gaming in a report on Thursday, October 16th. They set a “market outperform” rating and a $50.00 price objective on the stock. Finally, Zacks Research raised Sharplink Gaming to a “hold” rating in a report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.00.

Sharplink Gaming Price Performance

NASDAQ:SBET opened at $13.92 on Friday. The firm has a market capitalization of $2.68 billion, a PE ratio of -2.78 and a beta of 10.01. The business’s fifty day moving average price is $16.91 and its 200 day moving average price is $16.86. Sharplink Gaming has a 12 month low of $2.26 and a 12 month high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last posted its earnings results on Thursday, August 14th. The company reported ($0.64) EPS for the quarter. The business had revenue of $0.70 million during the quarter. Sharplink Gaming had a negative net margin of 3,377.39% and a negative return on equity of 15.93%.

Insider Buying and Selling

In related news, Director Leslie Bernhard sold 18,334 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $19.17, for a total transaction of $351,462.78. Following the transaction, the director owned 24,998 shares of the company’s stock, valued at $479,211.66. This trade represents a 42.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert M. Gutkowski sold 18,334 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $19.17, for a total value of $351,462.78. Following the transaction, the director directly owned 24,998 shares in the company, valued at approximately $479,211.66. This represents a 42.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,002 shares of company stock valued at $1,054,388 over the last quarter. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sharplink Gaming

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SLT Holdings LLC purchased a new position in shares of Sharplink Gaming during the third quarter worth about $435,000. Ethos Financial Group LLC purchased a new position in shares of Sharplink Gaming during the third quarter worth about $248,000. SG Americas Securities LLC purchased a new position in shares of Sharplink Gaming during the third quarter worth about $2,854,000. Global Retirement Partners LLC purchased a new position in shares of Sharplink Gaming during the third quarter worth about $103,000. Finally, Signaturefd LLC purchased a new position in shares of Sharplink Gaming during the third quarter worth about $373,000. Hedge funds and other institutional investors 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.