B. Riley Financial Cuts Sharplink Gaming (NASDAQ:SBET) Price Target to $10.00

Sharplink Gaming (NASDAQ:SBET) had its price target lowered by research analysts at B. Riley Financial from $19.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s price objective points to a potential upside of 54.75% from the company’s previous close.

Several other research firms have also weighed in on SBET. Sanford C. Bernstein initiated coverage on shares of Sharplink Gaming in a report on Friday, October 31st. They issued an “outperform” rating and a $24.00 target price on the stock. Canaccord Genuity Group set a $16.00 target price on Sharplink Gaming and gave the company a “buy” rating in a research report on Thursday, January 29th. iA Financial set a $20.00 price target on shares of Sharplink Gaming in a research report on Wednesday, January 7th. Cantor Fitzgerald began coverage on shares of Sharplink Gaming in a research note on Monday, January 5th. They issued an “overweight” rating and a $15.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.14.

Sharplink Gaming Stock Down 3.8%

Shares of Sharplink Gaming stock traded down $0.26 during trading hours on Monday, reaching $6.46. 2,466,613 shares of the company’s stock were exchanged, compared to its average volume of 7,249,672. Sharplink Gaming has a 1 year low of $2.26 and a 1 year high of $124.12. The business has a fifty day moving average of $8.88 and a two-hundred day moving average of $12.98. The company has a market capitalization of $1.27 billion, a P/E ratio of -2.71 and a beta of 11.28.

Hedge Funds Weigh In On Sharplink Gaming

A number of institutional investors and hedge funds have recently modified their holdings of SBET. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sharplink Gaming during the third quarter worth about $49,000. IFP Advisors Inc purchased a new position in Sharplink Gaming during the 3rd quarter worth approximately $102,000. Global Retirement Partners LLC acquired a new position in Sharplink Gaming during the third quarter worth approximately $103,000. Empowered Funds LLC purchased a new stake in Sharplink Gaming in the fourth quarter valued at approximately $56,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Sharplink Gaming in the third quarter valued at approximately $144,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

About Sharplink Gaming

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.