Sharplink Gaming (NASDAQ:SBET) Trading Down 8.2% – Here’s What Happened

by · The Cerbat Gem

Sharplink Gaming Inc. (NASDAQ:SBET – Get Free Report) shares fell 8.2% on Monday . The company traded as low as $9.70 and last traded at $9.65. 4,296,229 shares were traded during mid-day trading, a decline of 71% from the average session volume of 15,010,657 shares. The stock had previously closed at $10.51.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Alliance Global Partners started coverage on Sharplink Gaming in a report on Tuesday, August 26th. They issued a “buy” rating and a $48.00 target price for the company. B. Riley cut 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. Zacks Research raised shares of Sharplink Gaming to a “hold” rating in a research note on Friday, October 17th. Citizens Jmp began coverage on shares of Sharplink Gaming in a research report on Thursday, October 16th. They set a “mkt outperform” rating and a $50.00 target price for the company. Finally, JMP Securities began coverage on Sharplink Gaming in a research report on Thursday, October 16th. They issued a “market outperform” rating and a $50.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sharplink Gaming has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Check Out Our Latest Analysis on Sharplink Gaming

Sharplink Gaming Price Performance

The stock has a market cap of $1.89 billion, a P/E ratio of -4.02 and a beta of 10.98. The stock’s fifty day simple moving average is $12.55 and its 200-day simple moving average is $18.49.

Institutional Trading of Sharplink Gaming

Several hedge funds have recently bought and sold shares of SBET. Vanguard Group Inc. bought a new position in Sharplink Gaming in the 3rd quarter worth about $46,447,000. Marshall Wace LLP acquired a new stake in Sharplink Gaming in the second quarter worth about $26,852,000. Alyeska Investment Group L.P. bought a new stake in shares of Sharplink Gaming during the 3rd quarter worth about $42,509,000. Anatole Investment Management Ltd lifted its stake 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 worth $33,399,000 after acquiring an additional 1,325,797 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Sharplink Gaming during the 3rd quarter valued at $30,812,000. 13.75% of the stock is currently owned by 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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