Sharplink Gaming (NASDAQ:SBET) Shares Up 4.7% – Time to Buy?

Sharplink Gaming Inc. (NASDAQ:SBET) traded up 4.7% on Tuesday . The company traded as high as $10.75 and last traded at $10.7690. 3,999,206 shares were traded during mid-day trading, a decline of 74% from the average session volume of 15,463,861 shares. The stock had previously closed at $10.29.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SBET shares. Sanford C. Bernstein began coverage on Sharplink Gaming in a report on Friday, October 31st. They issued an “outperform” rating and a $24.00 target price for the company. B. Riley cut their price objective on Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday. Citizens Jmp started coverage on Sharplink Gaming in a research note on Thursday, October 16th. They issued a “mkt outperform” rating and a $50.00 price objective for the company. Zacks Research raised Sharplink Gaming to a “hold” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sharplink Gaming currently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Sharplink Gaming Stock Down 5.8%

The firm has a 50 day moving average of $14.65 and a 200 day moving average of $17.93. The firm has a market cap of $1.83 billion, a PE ratio of -3.89 and a beta of 9.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Campbell Capital Management Inc. purchased a new stake in Sharplink Gaming in the 3rd quarter worth about $191,000. Caitong International Asset Management Co. Ltd bought a new position in Sharplink Gaming during the third quarter worth about $49,000. NewEdge Advisors LLC increased its stake in shares of Sharplink Gaming by 103.7% in the third quarter. NewEdge Advisors LLC now owns 20,780 shares of the company’s stock worth $353,000 after purchasing an additional 10,578 shares in the last quarter. Meteora Capital LLC purchased a new position in shares of Sharplink Gaming in the third quarter worth about $204,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Sharplink Gaming in the third quarter valued at approximately $42,509,000. 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.