Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Down 26.3% in August

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 19,900 shares, a decline of 26.3% from the August 15th total of 27,000 shares. Based on an average daily volume of 406,700 shares, the short-interest ratio is presently 0.0 days. Approximately 1.2% of the shares of the company are sold short.

Motorsport Games Stock Up 1.6 %

MSGM stock traded up $0.02 during trading on Friday, hitting $1.25. The company had a trading volume of 28,420 shares, compared to its average volume of 296,279. The firm has a market cap of $4.28 million, a PE ratio of -0.35 and a beta of 1.99. Motorsport Games has a 1-year low of $1.01 and a 1-year high of $4.73. The firm has a 50-day moving average price of $1.63 and a 200-day moving average price of $2.15.

Motorsport Games (NASDAQ:MSGM) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.87 earnings per share (EPS) for the quarter. Motorsport Games had a return on equity of 58.22% and a net margin of 11.52%. The firm had revenue of $1.88 million for the quarter.

Analyst Ratings Changes

Separately, Canaccord Genuity Group restated a “hold” rating and issued a $5.00 price target on shares of Motorsport Games in a research report on Thursday, July 11th.

Hedge Funds Weigh In On Motorsport Games

An institutional investor recently bought a new position in Motorsport Games stock. Clarity Capital Partners LLC bought a new position in shares of Motorsport Games Inc. (NASDAQ:MSGM) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 25,100 shares of the company’s stock, valued at approximately $78,000. Clarity Capital Partners LLC owned 0.73% of Motorsport Games at the end of the most recent quarter. Hedge funds and other institutional investors own 1.66% of the company’s stock.

Motorsport Games Company Profile

Motorsport Games Inc develops and publishes multi-platform racing video games in the United States. It operates through Gaming and Esports segments. The company offers rFactor 2, a realistic racing simulation game; NASCAR Heat Mobile, a racing experience for mobile devices; NASCAR Heat 3, NASCAR Heat 4, NASCAR Heat 5, NASCAR Heat Ultimate Edition, and NASCAR 21: Ignition, which are racing video games; KartKraft, a kart racing simulator; NASCAR Rivals, a racing video game; and Le Mans Ultimate, a official game of the FIA World Endurance Championship and 24 Hours of Le Mans.