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

Motorsport Games Inc. (NASDAQ:MSGM) saw a large decline in short interest in the month of 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 currently 0.0 days. Approximately 1.2% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Motorsport Games Trading Up 1.6 %

Shares of NASDAQ:MSGM traded up $0.02 during trading on Friday, hitting $1.25. 28,420 shares of the stock were exchanged, compared to its average volume of 296,279. The company has a fifty day moving average price of $1.63 and a two-hundred day moving average price of $2.15. The company has a market cap of $4.28 million, a PE ratio of -0.35 and a beta of 1.99. Motorsport Games has a 12-month low of $1.01 and a 12-month high of $4.73.

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

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 stake in Motorsport Games Inc. (NASDAQ:MSGM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission. 1.66% of the stock is owned by institutional investors.

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.