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

by · The Cerbat Gem

Sharplink Gaming Inc. (NASDAQ:SBET – Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $12.02, but opened at $11.45. Sharplink Gaming shares last traded at $11.3360, with a volume of 2,669,138 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on SBET. Weiss Ratings reissued a “sell (d)” rating on shares of Sharplink Gaming in a research report on Wednesday, October 8th. B. Riley dropped their price objective on Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Alliance Global Partners started coverage on Sharplink Gaming in a research report on Tuesday, August 26th. They issued a “buy” rating and a $48.00 target price for the company. Zacks Research raised Sharplink Gaming to a “hold” rating in a research report on Friday, October 17th. Finally, Citizens Jmp started coverage on Sharplink Gaming in a research note on Thursday, October 16th. They set a “mkt outperform” rating and a $50.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sharplink Gaming has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Check Out Our Latest Stock Report on SBET

Sharplink Gaming Trading Down 4.9%

The company’s 50 day moving average price is $12.83 and its two-hundred day moving average price is $18.71. The stock has a market cap of $2.25 billion, a P/E ratio of -4.79 and a beta of 10.98.

Institutional Investors Weigh In On Sharplink Gaming

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Sharplink Gaming in the third quarter valued at $46,447,000. Marshall Wace LLP bought a new stake in shares of Sharplink Gaming in the 2nd quarter worth about $26,852,000. Alyeska Investment Group L.P. purchased a new stake in shares of Sharplink Gaming during the 3rd quarter valued at about $42,509,000. Anatole Investment Management Ltd lifted its holdings in shares of Sharplink Gaming by 207.9% in the 3rd quarter. Anatole Investment Management Ltd now owns 1,963,497 shares of the company’s stock valued at $33,399,000 after acquiring an additional 1,325,797 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in Sharplink Gaming in the third quarter worth about $30,812,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

About Sharplink Gaming

(Get Free Report)

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.

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