Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Up 117.2% in March
by Jessica Moore · The Cerbat GemMotorsport Games Inc. (NASDAQ:MSGM – Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 47,249 shares, a growth of 117.2% from the March 15th total of 21,749 shares. Based on an average trading volume of 69,496 shares, the short-interest ratio is presently 0.7 days. Approximately 0.9% of the company’s stock are sold short.
Motorsport Games Stock Performance
MSGM traded up $0.05 on Tuesday, reaching $3.90. The company had a trading volume of 17,577 shares, compared to its average volume of 102,512. The company has a market cap of $22.53 million, a price-to-earnings ratio of 2.71 and a beta of 1.77. The business has a 50 day simple moving average of $3.86 and a 200 day simple moving average of $3.27. Motorsport Games has a 52-week low of $0.83 and a 52-week high of $5.41.
Motorsport Games (NASDAQ:MSGM – Get Free Report) last announced its quarterly earnings data on Tuesday, March 10th. The company reported $0.15 earnings per share (EPS) for the quarter. Motorsport Games had a return on equity of 129.70% and a net margin of 61.31%.The company had revenue of $3.85 million during the quarter.
Insider Activity
In related news, major shareholder Mike Zoi sold 90,900 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $4.49, for a total transaction of $408,141.00. Following the transaction, the insider owned 1,245,364 shares in the company, valued at $5,591,684.36. The trade was a 6.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 321,537 shares of company stock worth $1,348,505. 4.58% of the stock is owned by insiders.
Institutional Trading of Motorsport Games
Institutional investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in shares of Motorsport Games in the fourth quarter valued at approximately $34,000. HRT Financial LP acquired a new stake in Motorsport Games during the fourth quarter worth approximately $37,000. State Street Corp purchased a new stake in shares of Motorsport Games in the fourth quarter worth about $39,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Motorsport Games during the 3rd quarter worth approximately $46,000. 1.66% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on MSGM shares. Wall Street Zen upgraded shares of Motorsport Games from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Motorsport Games in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.
View Our Latest Report on Motorsport Games
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).