Motorsport Games Inc. (NASDAQ:MSGM) Sees Large Growth in Short Interest

Motorsport Games Inc. (NASDAQ:MSGM) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 38,807 shares, a growth of 56.9% from the December 31st total of 24,735 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 128,986 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 128,986 shares, the short-interest ratio is presently 0.3 days. Approximately 0.8% of the shares of the stock are sold short.

Motorsport Games Stock Down 5.7%

MSGM traded down $0.25 during midday trading on Friday, hitting $4.12. 68,853 shares of the company were exchanged, compared to its average volume of 108,021. The firm’s 50 day moving average price is $3.17 and its 200-day moving average price is $3.00. Motorsport Games has a 1-year low of $0.73 and a 1-year high of $5.41. The firm has a market capitalization of $23.81 million, a P/E ratio of 10.30 and a beta of 1.76.

Motorsport Games (NASDAQ:MSGM) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.10 million during the quarter. Motorsport Games had a return on equity of 86.01% and a net margin of 34.24%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Motorsport Games in a research report on Monday, December 29th. Wall Street Zen raised Motorsport Games to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Motorsport Games has an average rating of “Hold”.

Institutional Investors Weigh In On Motorsport Games

A hedge fund recently bought a new stake in Motorsport Games stock. Dimensional Fund Advisors LP bought a new position in shares of Motorsport Games Inc. (NASDAQ:MSGM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,814 shares of the company’s stock, valued at approximately $46,000. Dimensional Fund Advisors LP owned about 0.29% of Motorsport Games as of its most recent SEC filing. Hedge funds and other institutional investors own 1.66% of the company’s stock.

About Motorsport Games

Motorsport Games, Inc is a publicly traded developer and publisher of interactive motorsport entertainment, headquartered in Miami, Florida. The company specializes in creating officially licensed racing simulation titles and managing associated esports competitions. By focusing exclusively on the motorsport genre, Motorsport Games aims to deliver authentic digital experiences that mirror the rules, tracks and vehicles of real-world racing series.

The company’s core activities include the development of video games under licenses from major sanctioning bodies such as NASCAR, the Fédération Internationale de l’Automobile (FIA) and International Motor Sports Association (IMSA).