Motorsport Games (NASDAQ:MSGM) Shares Up 0.9%

Motorsport Games Inc. (NASDAQ:MSGM) shares shot up 0.9% during mid-day trading on Wednesday . The stock traded as high as $1.18 and last traded at $1.15. 27,115 shares were traded during mid-day trading, a decline of 85% from the average session volume of 175,322 shares. The stock had previously closed at $1.14.

Wall Street Analyst Weigh In

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

Motorsport Games Stock Performance

The company has a 50-day simple moving average of $1.89 and a 200-day simple moving average of $2.25. The stock has a market cap of $3.94 million, a P/E ratio of -0.32 and a beta of 2.03.

Institutional Investors 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) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,100 shares of the company’s stock, valued at approximately $78,000. Clarity Capital Partners LLC owned about 0.73% of Motorsport Games as of its most recent SEC filing. 1.66% of the stock is currently owned by hedge funds and other institutional investors.

About Motorsport Games

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.