Short Interest in Motorsport Games Inc. (NASDAQ:MSGM) Grows By 86.1%

Motorsport Games Inc. (NASDAQ:MSGM) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 91,614 shares, a growth of 86.1% from the April 30th total of 49,223 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 105,824 shares, the short-interest ratio is currently 0.9 days.

Motorsport Games Stock Performance

NASDAQ:MSGM opened at $4.29 on Tuesday. The stock has a 50-day simple moving average of $4.27 and a 200-day simple moving average of $3.70. The stock has a market cap of $17.89 million, a P/E ratio of 3.67 and a beta of 1.68. Motorsport Games has a 1 year low of $2.11 and a 1 year high of $5.56.

Motorsport Games (NASDAQ:MSGM) last released its quarterly earnings data on Tuesday, March 10th. The company reported $0.15 earnings per share (EPS) for the quarter. The business had revenue of $3.85 million during the quarter. Motorsport Games had a return on equity of 87.43% and a net margin of 45.70%.

Analyst Ratings Changes

Separately, Wall Street Zen raised Motorsport Games from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Insider Activity

In other news, major shareholder Mike Zoi sold 904,395 shares of Motorsport Games stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $4.11, for a total value of $3,717,063.45. Following the sale, the insider directly owned 254,453 shares of the company’s stock, valued at $1,045,801.83. The trade was a 78.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 1,120,905 shares of company stock valued at $4,685,959 over the last quarter. Insiders own 4.59% of the company’s stock.

Hedge Funds Weigh In On Motorsport Games

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in Motorsport Games during the fourth quarter worth $34,000. HRT Financial LP purchased a new stake in shares of Motorsport Games during the fourth quarter worth about $37,000. State Street Corp bought a new stake in Motorsport Games in the fourth quarter valued at about $39,000. Dimensional Fund Advisors LP bought a new stake in Motorsport Games in the third quarter valued at about $46,000. Finally, Renaissance Technologies LLC boosted its stake in Motorsport Games by 43.8% in the first quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock valued at $113,000 after acquiring an additional 8,400 shares during the period. 1.66% of the stock is owned by hedge funds and other institutional investors.

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).