How SharpLink Gaming Ltd. (SBET) Works From A Technical Perspective

SharpLink Gaming Ltd. (NASDAQ:SBET) finished Tuesday with an addition of $0.17 to close at $4.58, an upside of 3.85 percent. An average of 2,291,820 shares of common stock have been traded in the last five days. There was a fall of -$0.18 in the past week. The last 20 days have seen an average of 1,176,465 shares traded, while the 50-day average volume stands at 1,240,538.

SBET stock has decreased by -27.07% in the last month. The company shares reached their 1-month lowest point of $4.12 on 10/06/21. With the stock rallying to its 52-week high on 07/12/21, shares of the company touched a low of $2.10 and a high of $17.88 in 52 weeks. In spite of this, the price is down -74.38% from the 52-week high.


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Valuation Metrics

SharpLink Gaming Ltd. (SBET) has a trailing price-to-earnings (P/E) ratio of 21.70 for the broader industry and 19.94 for the sector. This means investors are optimistic about the stock’s future prospects. The stock’s beta is 0.96. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 16.81, the price-to-book (PB) ratio at 7.16.

The quick ratio of SharpLink Gaming Ltd. for the recent quarter was 1.10, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the recent quarter. Its gross profit as reported stood at $2.22 million compared to revenue of $4.02 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, SharpLink Gaming Ltd.’s return on assets was -27.20%.

Technical Picture

From a technical analysis perspective, let’s take a brief look at SharpLink Gaming Ltd. (SBET) price momentum. RSI 9-day as of the close on 05 October was 40.46%, suggesting the stock is Neutral, with historical volatility in this time frame at 46.71%.

As of today, SBET’s price is $4.53 -3.78% or -$0.18 from its 5-day moving average. SBET is currently trading -22.77% lower than its 20-day SMA and -7.66% lower than its 100-day SMA. However, the stock’s current price level is -32.05% below the SMA50 and +72.18% above the SMA200.

The stochastic %K and %D were 24.33% and 20.50%, respectively, and the average true range (ATR) was 0.46. With the 14-day stochastic at 37.40% and the average true range at 0.50, the RSI (14) stands at 41.07%. The stock has reached -0.16 on the 9-day MACD Oscillator while the 14-day reading was at -0.25.

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