Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Up 52.4% in December

Motorsport Games Inc. (NASDAQ:MSGM) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 24,735 shares, a growth of 52.4% from the December 15th total of 16,234 shares. Based on an average daily trading volume, of 71,513 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.5% of the company’s shares are sold short. Currently, 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 71,513 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Motorsport Games in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Motorsport Games

A hedge fund recently bought a new stake in Motorsport Games stock. Heron Bay Capital Management purchased a new stake in Motorsport Games Inc. (NASDAQ:MSGM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 45,416 shares of the company’s stock, valued at approximately $132,000. Heron Bay Capital Management owned approximately 0.79% of Motorsport Games at the end of the most recent reporting period. 1.66% of the stock is currently owned by hedge funds and other institutional investors.

Motorsport Games Stock Performance

Shares of NASDAQ:MSGM traded down $0.08 during midday trading on Friday, hitting $3.32. 34,755 shares of the stock were exchanged, compared to its average volume of 85,284. The company has a market capitalization of $19.19 million, a PE ratio of 8.30 and a beta of 1.76. Motorsport Games has a 52-week low of $0.73 and a 52-week high of $5.41. The business’s fifty day simple moving average is $3.01 and its two-hundred day simple moving average is $2.94.

Motorsport Games (NASDAQ:MSGM) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.10 million during the quarter. Motorsport Games had a return on equity of 86.01% and a net margin of 34.24%.

Motorsport Games Company Profile

Motorsport Games, Inc is a publicly traded developer and publisher of interactive motorsport entertainment, headquartered in Miami, Florida. The company specializes in creating officially licensed racing simulation titles and managing associated esports competitions. By focusing exclusively on the motorsport genre, Motorsport Games aims to deliver authentic digital experiences that mirror the rules, tracks and vehicles of real-world racing series.

The company’s core activities include the development of video games under licenses from major sanctioning bodies such as NASCAR, the Fédération Internationale de l’Automobile (FIA) and International Motor Sports Association (IMSA).