Short Interest in Motorsport Games Inc. (NASDAQ:MSGM) Declines By 16.6%

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 29,600 shares, a decline of 16.6% from the June 30th total of 35,500 shares. Based on an average daily volume of 185,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 2.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Motorsport Games

An institutional investor recently bought a new position in Motorsport Games stock. Clarity Capital Partners LLC acquired a new position in Motorsport Games Inc. (NASDAQ:MSGM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 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 filing with the Securities and Exchange Commission. 1.66% of the stock is currently owned by institutional investors and hedge funds.

Motorsport Games Trading Up 4.5 %

Shares of Motorsport Games stock opened at $2.10 on Monday. Motorsport Games has a 1 year low of $1.95 and a 1 year high of $8.71. The company has a 50 day simple moving average of $2.40 and a two-hundred day simple moving average of $2.44.

Motorsport Games (NASDAQ:MSGM) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.60) earnings per share for the quarter. The business had revenue of $3.03 million during the quarter. Motorsport Games had a negative return on equity of 318.81% and a negative net margin of 116.76%.

Wall Street Analyst Weigh In

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

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.