Sharplink Gaming (NASDAQ:SBET) Shares Gap Down – What’s Next?

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) gapped down prior to trading on Monday . The stock had previously closed at $10.62, but opened at $9.77. Sharplink Gaming shares last traded at $9.7150, with a volume of 1,512,588 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SBET. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a report on Wednesday, October 8th. Sanford C. Bernstein assumed coverage on shares of Sharplink Gaming in a report on Friday, October 31st. They issued an “outperform” rating and a $24.00 price objective on the stock. Alliance Global Partners started coverage on shares of Sharplink Gaming in a research note on Tuesday, August 26th. They set a “buy” rating and a $48.00 target price for the company. Zacks Research raised shares of Sharplink Gaming to a “hold” rating in a research note on Friday, October 17th. Finally, B. Riley lowered their price objective on shares of Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Sharplink Gaming Stock Performance

The company has a 50 day moving average of $13.80 and a 200 day moving average of $18.41. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -4.04 and a beta of 9.98.

Institutional Trading of Sharplink Gaming

Several hedge funds have recently added to or reduced their stakes in SBET. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sharplink Gaming in the 3rd quarter valued at $49,000. Global Retirement Partners LLC acquired a new position in shares of Sharplink Gaming during the third quarter worth $103,000. Highbridge Capital Management LLC acquired a new stake in Sharplink Gaming in the third quarter valued at $144,000. PFG Investments LLC purchased a new stake in Sharplink Gaming during the 3rd quarter worth about $171,000. Finally, Insigneo Advisory Services LLC acquired a new position in shares of Sharplink Gaming during the 3rd quarter worth about $173,000. Institutional investors and hedge funds 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.