Sharplink Gaming (NASDAQ:SBET) Shares Gap Down – Here’s What Happened
by Jessica Moore · The Cerbat GemSharplink Gaming Inc. (NASDAQ:SBET – Get Free Report) gapped down prior to trading 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 changing hands.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on SBET shares. Citizens Jmp began coverage on Sharplink Gaming in a report on Thursday, October 16th. They issued a “mkt outperform” rating and a $50.00 price target for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research note on Wednesday, October 8th. Industrial Alliance Securities set a $20.00 price target on Sharplink Gaming in a research report on Wednesday, January 7th. Zacks Research raised shares of Sharplink Gaming to a “hold” rating in a research report on Friday, October 17th. Finally, B. Riley reduced their target price on shares of Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sharplink Gaming has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.
Check Out Our Latest Stock Report on SBET
Sharplink Gaming Stock Down 9.2%
The firm’s 50-day moving average price is $10.17 and its 200 day moving average price is $15.41. The firm has a market cap of $1.96 billion, a P/E ratio of -4.18 and a beta of 11.12.
Institutional Investors Weigh In On Sharplink Gaming
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Formidable Asset Management LLC bought a new position in shares of Sharplink Gaming during the 4th quarter valued at about $171,000. Abacus Planning Group Inc. acquired a new stake in Sharplink Gaming during the fourth quarter valued at approximately $94,000. IFP Advisors Inc bought a new stake in Sharplink Gaming during the third quarter worth approximately $102,000. Campbell Capital Management Inc. acquired a new position in Sharplink Gaming in the third quarter worth approximately $191,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sharplink Gaming during the third quarter worth $49,000. 13.75% of the stock is currently owned by institutional investors.
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.