Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Update

Motorsport Games Inc. (NASDAQ:MSGM) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 138,100 shares, a growth of 594.0% from the August 31st total of 19,900 shares. Currently, 8.4% of the shares of the company are sold short. Based on an average daily trading volume, of 403,400 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Motorsport Games

An institutional investor recently bought a new position in Motorsport Games stock. Clarity Capital Partners LLC bought a new stake in Motorsport Games Inc. (NASDAQ:MSGM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,100 shares of the company’s stock, valued at approximately $78,000. Clarity Capital Partners LLC owned approximately 0.73% of Motorsport Games at the end of the most recent quarter. 1.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Motorsport Games Stock Up 40.0 %

Motorsport Games stock traded up $0.44 during mid-day trading on Wednesday, reaching $1.54. The company had a trading volume of 58,394,929 shares, compared to its average volume of 616,229. The firm has a market cap of $5.81 million, a price-to-earnings ratio of -0.43 and a beta of 1.99. The company has a 50 day moving average of $1.46 and a 200-day moving average of $2.09. Motorsport Games has a 52 week low of $1.01 and a 52 week high of $4.73.

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

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.