Traders Buy High Volume of Sharplink Gaming Call Options (NASDAQ:SBET)

Sharplink Gaming Inc. (NASDAQ:SBET) was the target of some unusual options trading activity on Thursday. Investors acquired 35,105 call options on the stock. This represents an increase of 79% compared to the average daily volume of 19,582 call options.

Sharplink Gaming Stock Performance

Shares of SBET stock opened at $12.94 on Friday. The firm has a fifty day simple moving average of $16.93 and a 200-day simple moving average of $9.26. Sharplink Gaming has a twelve month low of $2.26 and a twelve month high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($1.73) EPS for the quarter. Sharplink Gaming had a negative net margin of 94.08% and a negative return on equity of 162.25%. The company had revenue of $0.74 million for the quarter.

Insider Buying and Selling at Sharplink Gaming

In other news, CEO Rob Phythian bought 44,640 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was acquired at an average cost of $6.72 per share, for a total transaction of $299,980.80. Following the completion of the purchase, the chief executive officer owned 57,349 shares of the company’s stock, valued at $385,385.28. This trade represents a 351.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Michael Delucia bought 7,440 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was purchased at an average price of $6.72 per share, with a total value of $49,996.80. Following the completion of the purchase, the chief financial officer directly owned 14,107 shares of the company’s stock, valued at approximately $94,799.04. This trade represents a 111.59% increase in their position. The disclosure for this purchase can be found here. 7.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sharplink Gaming stock. Value Base Ltd. acquired a new stake in shares of Sharplink Gaming Inc. (NASDAQ:SBET) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 73,001 shares of the company’s stock, valued at approximately $47,000. Sharplink Gaming comprises about 0.0% of Value Base Ltd.’s portfolio, making the stock its 7th biggest holding. Value Base Ltd. owned approximately 2.03% of Sharplink Gaming at the end of the most recent quarter. 13.75% of the stock is 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.