Motorsport Games Inc. (NASDAQ:MSGM) Sees Large Growth in Short Interest

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 38,807 shares, an increase of 56.9% from the December 31st total of 24,735 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 128,986 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 128,986 shares, the short-interest ratio is presently 0.3 days. Currently, 0.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen upgraded Motorsport Games to a “buy” rating in a research note on Saturday. Weiss Ratings restated a “hold (c-)” rating on shares of Motorsport Games in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Motorsport Games Stock Down 5.7%

Shares of MSGM traded down $0.25 during midday trading on Friday, hitting $4.12. The company’s stock had a trading volume of 68,853 shares, compared to its average volume of 108,021. Motorsport Games has a one year low of $0.73 and a one year high of $5.41. The stock has a market capitalization of $23.81 million, a price-to-earnings ratio of 10.30 and a beta of 1.76. The company’s fifty day simple moving average is $3.17 and its two-hundred day simple moving average is $3.00.

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

Institutional Investors Weigh In On Motorsport Games

An institutional investor recently bought a new position in Motorsport Games stock. Heron Bay Capital Management acquired a new stake in Motorsport Games Inc. (NASDAQ:MSGM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 45,416 shares of the company’s stock, valued at approximately $132,000. Heron Bay Capital Management owned about 0.79% of Motorsport Games at the end of the most recent reporting period. Institutional investors and hedge funds 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).