Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Update

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 21,749 shares, a decline of 36.9% from the February 26th total of 34,485 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 277,274 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

MSGM has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Motorsport Games in a research report on Monday, December 29th. Wall Street Zen raised Motorsport Games from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Motorsport Games Price Performance

NASDAQ:MSGM traded down $0.06 during trading hours on Friday, reaching $4.06. 15,558 shares of the company were exchanged, compared to its average volume of 177,430. The company has a market capitalization of $23.47 million, a P/E ratio of 2.82 and a beta of 1.79. Motorsport Games has a 1-year low of $0.73 and a 1-year high of $5.41. The business has a 50 day moving average of $3.87 and a 200 day moving average of $3.19.

Motorsport Games (NASDAQ:MSGM) last posted its quarterly earnings data on Tuesday, March 10th. The company reported $0.15 EPS for the quarter. The firm had revenue of $3.85 million for the quarter. Motorsport Games had a return on equity of 129.70% and a net margin of 61.31%.

Insider Buying and Selling

In other Motorsport Games news, major shareholder Mike Zoi sold 90,900 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $4.49, for a total value of $408,141.00. Following the transaction, the insider directly owned 1,245,364 shares of the company’s stock, valued at $5,591,684.36. This represents a 6.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 321,537 shares of company stock valued at $1,348,505. 4.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Motorsport Games

Several institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new position in shares of Motorsport Games in the fourth quarter worth about $34,000. HRT Financial LP acquired a new position in Motorsport Games during the 4th quarter worth approximately $37,000. State Street Corp bought a new position in Motorsport Games in the 4th quarter valued at approximately $39,000. Finally, Dimensional Fund Advisors LP bought a new position in Motorsport Games in the 3rd quarter valued at approximately $46,000. Institutional investors own 1.66% of the company’s stock.

About Motorsport Games

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).