Leslie Bernhard Sells 12,892 Shares of Sharplink Gaming (NASDAQ:SBET) Stock

Sharplink Gaming Inc. (NASDAQ:SBET) Director Leslie Bernhard sold 12,892 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total transaction of $95,529.72. Following the transaction, the director owned 24,998 shares in the company, valued at $185,235.18. This represents a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sharplink Gaming Stock Performance

Sharplink Gaming stock opened at $7.40 on Friday. The stock has a 50-day simple moving average of $7.22 and a 200 day simple moving average of $8.79. The stock has a market capitalization of $1.46 billion, a P/E ratio of -12.33 and a beta of 10.69. Sharplink Gaming Inc. has a 52 week low of $2.58 and a 52 week high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last released its quarterly earnings data on Friday, May 8th. The company reported ($3.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($2.63). Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. The business had revenue of $12.06 million during the quarter, compared to the consensus estimate of $14.60 million. During the same quarter in the prior year, the company earned ($1.84) EPS. Research analysts forecast that Sharplink Gaming Inc. will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SBET has been the topic of several research analyst reports. TD Cowen assumed coverage on shares of Sharplink Gaming in a research report on Friday, April 10th. They issued a “buy” rating and a $16.00 price objective on the stock. Alliance Global Partners reissued a “buy” rating on shares of Sharplink Gaming in a research note on Monday. Wall Street Zen upgraded shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. HC Wainwright assumed coverage on shares of Sharplink Gaming in a report on Tuesday, April 7th. They set a “buy” rating and a $10.00 price target on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price objective on shares of Sharplink Gaming in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.11.

Institutional Trading of Sharplink Gaming

Several hedge funds and other institutional investors have recently made changes to their positions in the company. APEIRON CAPITAL Ltd bought a new position in Sharplink Gaming in the 3rd quarter valued at approximately $23,038,000. Wolverine Asset Management LLC bought a new stake in Sharplink Gaming during the 4th quarter worth approximately $4,398,000. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Sharplink Gaming during the 3rd quarter worth approximately $30,812,000. Wealth Enhancement Advisory Services LLC acquired a new position in Sharplink Gaming in the 3rd quarter valued at approximately $2,190,000. Finally, BIT Capital GmbH raised its stake in shares of Sharplink Gaming by 103.5% during the third quarter. BIT Capital GmbH now owns 1,215,819 shares of the company’s stock valued at $20,681,000 after acquiring an additional 618,508 shares during the last quarter. 13.75% of the stock is currently owned by institutional investors.

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.