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Is SharpLink Gaming Ltd. (NASDAQ) Bullish Or Bearish In 2022?

SharpLink Gaming Ltd. (NASDAQ:SBET) shares, rose in value on Friday, 08/05/22, with the stock price up by 4.12% to the previous day’s close as strong demand from buyers drove the stock to $1.01.

Actively observing the price movement in the last trading, the stock closed the session at $0.97, falling within a range of $0.96 and $1.12. Referring to stock’s 52-week performance, its high was $7.09, and the low was $0.70. On the whole, SBET has fluctuated by -0.82% over the past month.

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With the market capitalization of SharpLink Gaming Ltd. currently standing at about $22.38 million, investors are eagerly awaiting this quarter’s results, scheduled for May 06, 2021.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SBET’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SBET currently trading nearly 3.49% and 7.63% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.92, while the 7-day volatility ratio is showing 9.00% which for the 30-day chart, stands at 9.19%. Furthermore, SharpLink Gaming Ltd. (SBET)’s beta value is 1.06, and its average true range (ATR) is 0.09.

A comparison of SharpLink Gaming Ltd. (SBET) with its peers suggests the former has fared considerably weaker in the market. SBET showed an intraday change of 4.12% in last session, and over the past year, it shrunk by -84.56%%. In comparison, MIND C.T.I. Ltd (MNDO) has moved lower at -2.07% on the day and was down -30.18% over the past 12 months. On the other hand, the price of NICE Ltd. (NICE) has fallen -0.13% on the day. The stock, however, is off -21.62% from where it was a year ago. Additionally, there is a loss of 0.00% for B.O.S. Better Online Solutions Ltd. (BOSC) in last trading while the stock has seen an overall depriciation of -38.62%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.16%. Meanwhile, the Dow Jones Industrial Improved by 0.23%.

Data on historical trading for SharpLink Gaming Ltd. (NASDAQ:SBET) indicates that the trading volumes over the past 10 days have averaged 0.11 million and over the past 3 months, they’ve averaged 98.59K. According to company’s latest data on outstanding shares, there are 25.44 million shares outstanding.

Nearly 71.90% of SharpLink Gaming Ltd.’s shares belong to company insiders and institutional investors own 2.40% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 57210.0 shares as on Jul 14, 2022, resulting in a short ratio of 0.9. According to the data, the short interest in SharpLink Gaming Ltd. (SBET) stood at 0.26% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 63620.0. The stock has fallen by -61.89% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SBET stock heading into the next quarter.

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