Long Corridor Asset Management Ltd Buys New Stake in Sharplink Gaming Inc. $SBET

Long Corridor Asset Management Ltd purchased a new stake in Sharplink Gaming Inc. (NASDAQ:SBET) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 110,000 shares of the company’s stock, valued at approximately $1,871,000. Sharplink Gaming comprises approximately 0.8% of Long Corridor Asset Management Ltd’s investment portfolio, making the stock its 19th biggest position. Long Corridor Asset Management Ltd owned 0.06% of Sharplink Gaming at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new position in shares of Sharplink Gaming during the 2nd quarter valued at about $101,000. Global Retirement Partners LLC acquired a new position in shares of Sharplink Gaming in the 3rd quarter valued at about $103,000. Highbridge Capital Management LLC purchased a new stake in shares of Sharplink Gaming in the third quarter worth about $144,000. Qube Research & Technologies Ltd purchased a new stake in shares of Sharplink Gaming in the second quarter worth about $151,000. Finally, PFG Investments LLC acquired a new stake in Sharplink Gaming during the third quarter worth about $171,000. 13.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on SBET. Cantor Fitzgerald initiated coverage on Sharplink Gaming in a research report on Monday, January 5th. They set an “overweight” rating and a $15.00 price target for the company. Canaccord Genuity Group set a $16.00 price objective on Sharplink Gaming and gave the stock a “buy” rating in a research report on Thursday, January 29th. B. Riley Financial dropped their price objective on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. iA Financial set a $20.00 target price on shares of Sharplink Gaming in a research note on Wednesday, January 7th. Finally, Wall Street Zen cut shares of Sharplink Gaming from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.14.

Sharplink Gaming Stock Down 7.4%

NASDAQ:SBET opened at $7.34 on Friday. Sharplink Gaming Inc. has a 52 week low of $2.26 and a 52 week high of $124.12. The stock’s 50-day moving average price is $8.46 and its 200-day moving average price is $12.02. The stock has a market capitalization of $1.44 billion, a PE ratio of -3.07 and a beta of 11.40.

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.