Sharplink Gaming (NASDAQ:SBET) Shares Gap Down – Here’s What Happened

Sharplink Gaming Inc. (NASDAQ:SBET)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $10.62, but opened at $9.77. Sharplink Gaming shares last traded at $9.7150, with a volume of 1,512,588 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SBET shares. Zacks Research raised Sharplink Gaming to a “hold” rating in a report on Friday, October 17th. Alliance Global Partners began coverage on Sharplink Gaming in a research report on Tuesday, August 26th. They set a “buy” rating and a $48.00 price target for the company. B. Riley lowered their price target on Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Sanford C. Bernstein began coverage on shares of Sharplink Gaming in a research note on Friday, October 31st. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.20.

Sharplink Gaming Trading Up 3.9%

The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -4.17 and a beta of 10.98. The firm has a 50-day moving average price of $13.52 and a 200-day moving average price of $18.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. IFP Advisors Inc acquired a new stake in Sharplink Gaming in the 3rd quarter valued at about $102,000. Campbell Capital Management Inc. bought a new stake in shares of Sharplink Gaming in the 3rd quarter worth approximately $191,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sharplink Gaming in the 3rd quarter worth approximately $49,000. NewEdge Advisors LLC lifted its stake in Sharplink Gaming by 103.7% during the third quarter. NewEdge Advisors LLC now owns 20,780 shares of the company’s stock valued at $353,000 after purchasing an additional 10,578 shares during the last quarter. Finally, Meteora Capital LLC bought a new stake in Sharplink Gaming during the third quarter worth approximately $204,000. 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.