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

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 19,900 shares, a decrease of 26.3% from the August 15th total of 27,000 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 406,700 shares, the short-interest ratio is presently 0.0 days.

Institutional Investors Weigh In On Motorsport Games

A hedge fund recently bought a new stake in Motorsport Games stock. Clarity Capital Partners LLC acquired a new stake in Motorsport Games Inc. (NASDAQ:MSGM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period. 1.66% of the stock is owned by institutional investors.

Motorsport Games Trading Down 3.2 %

Shares of MSGM traded down $0.04 during mid-day trading on Monday, hitting $1.21. The company’s stock had a trading volume of 14,989 shares, compared to its average volume of 294,699. Motorsport Games has a 1-year low of $1.01 and a 1-year high of $4.73. The firm has a market capitalization of $4.14 million, a P/E ratio of -0.35 and a beta of 1.99. The firm has a 50-day simple moving average of $1.63 and a 200 day simple moving average of $2.15.

Motorsport Games (NASDAQ:MSGM) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.87 earnings per share (EPS) 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.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “hold” rating and set a $5.00 price target on shares of Motorsport Games in a 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.