Sharplink Gaming (NASDAQ:SBET) Shares Gap Down – Should You Sell?
by Mitch Edgeman · The Markets DailySharplink Gaming Inc. (NASDAQ:SBET – Get Free Report)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $11.00, but opened at $10.22. Sharplink Gaming shares last traded at $9.9510, with a volume of 1,944,233 shares.
Analysts Set New Price Targets
A number of brokerages recently weighed in on SBET. 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. Sanford C. Bernstein initiated coverage on Sharplink Gaming in a report on Friday, October 31st. They set an “outperform” rating and a $24.00 target price for the company. Zacks Research raised Sharplink Gaming to a “hold” rating in a report on Friday, October 17th. Citizens Jmp began coverage on Sharplink Gaming in a research report on Thursday, October 16th. They set a “mkt outperform” rating and a $50.00 price objective for the company. Finally, Cantor Fitzgerald began coverage on Sharplink Gaming in a research report on Monday, January 5th. They issued an “overweight” rating and a $15.00 target price on the stock. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.29.
Check Out Our Latest Analysis on Sharplink Gaming
Sharplink Gaming Stock Performance
The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -4.09 and a beta of 11.12. The company’s 50 day simple moving average is $10.08 and its 200 day simple moving average is $15.31.
Institutional Investors Weigh In On Sharplink Gaming
A number of institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sharplink Gaming during the 3rd quarter valued at $49,000. Abacus Planning Group Inc. bought a new position in Sharplink Gaming during the fourth quarter valued at about $94,000. NewEdge Advisors LLC bought a new position in Sharplink Gaming during the second quarter valued at about $101,000. IFP Advisors Inc acquired a new position in Sharplink Gaming during the third quarter worth about $102,000. Finally, Global Retirement Partners LLC bought a new stake in Sharplink Gaming in the third quarter worth about $103,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.
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.