Sharplink Gaming (NASDAQ:SBET) Shares Down 8.2% – What’s Next?

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

Analysts Set New Price Targets

SBET has been the subject of several research analyst reports. Citizens Jmp assumed coverage on shares of Sharplink Gaming in a research note on Thursday, October 16th. They set a “mkt outperform” rating and a $50.00 target price for the company. Zacks Research upgraded Sharplink Gaming to a “hold” rating in a report on Friday, October 17th. JMP Securities assumed coverage on Sharplink Gaming in a report on Thursday, October 16th. They set a “market outperform” rating and a $50.00 target price for the company. Sanford C. Bernstein started coverage on shares of Sharplink Gaming in a research report on Friday, October 31st. They set an “outperform” rating and a $24.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Sharplink Gaming in a report on Wednesday, October 8th. Four 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Sharplink Gaming Trading Down 8.7%

The business has a fifty day moving average price of $12.55 and a 200 day moving average price of $18.49. The firm has a market cap of $1.89 billion, a PE ratio of -4.02 and a beta of 10.98.

Institutional Investors Weigh In On Sharplink Gaming

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Sharplink Gaming during the third quarter worth about $49,000. IFP Advisors Inc acquired a new position in shares of Sharplink Gaming in the third quarter valued at approximately $102,000. Global Retirement Partners LLC purchased a new stake in shares of Sharplink Gaming during the third quarter worth approximately $103,000. Highbridge Capital Management LLC acquired a new stake in shares of Sharplink Gaming during the third quarter worth $144,000. Finally, PFG Investments LLC acquired a new stake in shares of Sharplink Gaming during the third quarter worth $171,000. 13.75% of the stock is owned by institutional investors and hedge funds.

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.