Sharplink Gaming (NASDAQ:SBET) Cut to “Sell” at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Sharplink Gaming (NASDAQ:SBET – Free Report) from a hold rating to a sell rating in a research report released on Saturday.

Several other brokerages have also weighed in on SBET. Weiss Ratings reissued a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. iA Financial set a $20.00 price target on Sharplink Gaming in a research note on Wednesday, January 7th. Cantor Fitzgerald began coverage on Sharplink Gaming in a research note on Monday, January 5th. They issued an “overweight” rating and a $15.00 price objective on the stock. Canaccord Genuity Group set a $16.00 price objective on shares of Sharplink Gaming and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, B. Riley Financial reduced their target price on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.14.

Read Our Latest Research Report on SBET

Sharplink Gaming Stock Performance

Shares of SBET stock opened at $7.39 on Friday. Sharplink Gaming has a 52 week low of $2.26 and a 52 week high of $124.12. The firm’s 50-day simple moving average is $8.58 and its two-hundred day simple moving average is $12.30. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -3.09 and a beta of 11.40.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. boosted its position in shares of Sharplink Gaming by 70.8% in 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 acquiring an additional 1,769,589 shares during the period. Invesco Ltd. boosted its holdings in Sharplink Gaming by 165.9% in the 4th quarter. Invesco Ltd. now owns 2,734,052 shares of the company’s stock valued at $24,442,000 after purchasing an additional 1,706,011 shares during the period. Vanguard Group Inc. purchased a new position in shares of Sharplink Gaming during the 3rd quarter valued at $46,447,000. Voloridge Investment Management LLC increased its holdings in shares of Sharplink Gaming by 344.4% in the fourth quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company’s stock worth $24,240,000 after purchasing an additional 2,101,252 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Sharplink Gaming in the second quarter worth $26,852,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

Sharplink Gaming Company Profile

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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.

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