Sharplink Gaming (NASDAQ:SBET) Shares Down 3.8% – Should You Sell?

Sharplink Gaming Inc. (NASDAQ:SBET)’s stock price traded down 3.8% during trading on Thursday . The stock traded as low as $9.49 and last traded at $9.5890. 1,753,897 shares were traded during trading, a decline of 75% from the average session volume of 6,909,352 shares. The stock had previously closed at $9.97.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SBET. JMP Securities initiated coverage on Sharplink Gaming in a research note on Thursday, October 16th. They set a “market outperform” rating and a $50.00 target price on the stock. Sanford C. Bernstein initiated coverage on Sharplink Gaming in a research report on Friday, October 31st. They issued an “outperform” rating and a $24.00 price objective on the stock. Industrial Alliance Securities set a $20.00 target price on Sharplink Gaming in a research note on Wednesday, January 7th. Citizens Jmp began coverage on shares of Sharplink Gaming in a research note on Thursday, October 16th. They set a “mkt outperform” rating and a $50.00 target price for the company. Finally, Cantor Fitzgerald initiated coverage on shares of Sharplink Gaming in a research note on Monday, January 5th. They issued an “overweight” rating and a $15.00 price target on the stock. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.29.

Sharplink Gaming Stock Performance

The company has a market capitalization of $1.92 billion, a P/E ratio of -4.08 and a beta of 11.12. The company’s fifty day simple moving average is $10.06 and its 200-day simple moving average is $15.29.

Hedge Funds Weigh In On Sharplink Gaming

A number of large investors have recently bought and sold shares of SBET. Caitong International Asset Management Co. Ltd bought a new stake in Sharplink Gaming during the 3rd quarter valued at $49,000. IFP Advisors Inc purchased a new stake in shares of Sharplink Gaming during the 3rd quarter worth $102,000. Global Retirement Partners LLC bought a new stake in Sharplink Gaming during the third quarter valued at about $103,000. Highbridge Capital Management LLC bought a new stake in Sharplink Gaming during the third quarter valued at about $144,000. Finally, PFG Investments LLC bought a new stake in Sharplink Gaming during the third quarter valued at about $171,000. 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. 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.