Sharplink Gaming (NASDAQ:SBET) Director Leslie Bernhard Sells 12,892 Shares

Sharplink Gaming Inc. (NASDAQ:SBET) Director Leslie Bernhard sold 12,892 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total value of $95,529.72. Following the completion of the transaction, the director directly owned 24,998 shares in the company, valued at $185,235.18. This trade represents a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Sharplink Gaming Trading Down 9.2%

Shares of SBET opened at $6.72 on Friday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -11.20 and a beta of 10.69. The business’s fifty day simple moving average is $7.19 and its two-hundred day simple moving average is $8.78. Sharplink Gaming Inc. has a 12 month low of $2.58 and a 12 month high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly earnings results on Friday, May 8th. The company reported ($3.25) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($2.63). The business had revenue of $12.06 million during the quarter, compared to analysts’ expectations of $14.60 million. Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.During the same quarter in the prior year, the firm earned ($1.84) EPS. As a group, research analysts forecast that Sharplink Gaming Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Sharplink Gaming

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. lifted its position in Sharplink Gaming by 70.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,268,673 shares of the company’s stock valued at $38,162,000 after purchasing an additional 1,769,589 shares in the last quarter. Weiss Asset Management LP increased its position in Sharplink Gaming by 19.1% in the first quarter. Weiss Asset Management LP now owns 3,042,548 shares of the company’s stock worth $19,624,000 after buying an additional 488,247 shares in the last quarter. Invesco Ltd. increased its position in Sharplink Gaming by 165.9% in the fourth quarter. Invesco Ltd. now owns 2,734,052 shares of the company’s stock worth $24,442,000 after buying an additional 1,706,011 shares in the last quarter. Vanguard Group Inc. bought a new position in shares of Sharplink Gaming in the third quarter worth about $46,447,000. Finally, Voloridge Investment Management LLC lifted its position in shares of Sharplink Gaming by 344.4% during the 4th quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company’s stock valued at $24,240,000 after buying an additional 2,101,252 shares in the last quarter. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. B. Riley Financial lowered their target price on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Alliance Global Partners reiterated a “buy” rating on shares of Sharplink Gaming in a research note on Monday. TD Cowen began coverage on shares of Sharplink Gaming in a report on Friday, April 10th. They set a “buy” rating and a $16.00 price objective for the company. Canaccord Genuity Group restated a “buy” rating and set a $16.00 price objective on shares of Sharplink Gaming in a research report on Tuesday, March 17th. Finally, HC Wainwright started coverage on shares of Sharplink Gaming in a report on Tuesday, April 7th. They issued a “buy” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.11.

About Sharplink Gaming

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.