Short Interest in Motorsport Games Inc. (NASDAQ:MSGM) Drops By 49.6%

Motorsport Games Inc. (NASDAQ:MSGM) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totaling 16,234 shares, a decrease of 49.6% from the November 30th total of 32,223 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 61,761 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 61,761 shares, the short-interest ratio is presently 0.3 days. Approximately 0.3% of the shares of the stock are sold short.

Motorsport Games Stock Down 3.2%

Shares of NASDAQ MSGM traded down $0.10 during trading on Monday, hitting $3.06. 72,845 shares of the company traded hands, compared to its average volume of 756,008. The firm has a market capitalization of $17.69 million, a P/E ratio of 7.65 and a beta of 1.77. The company has a 50-day moving average price of $2.79 and a 200-day moving average price of $2.90. Motorsport Games has a 1 year low of $0.73 and a 1 year high of $5.41.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Motorsport Games in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Motorsport Games has an average rating of “Hold”.

Institutional Trading of Motorsport Games

An institutional investor recently bought a new position in Motorsport Games stock. Heron Bay Capital Management bought a new position in shares of Motorsport Games Inc. (NASDAQ:MSGM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 45,416 shares of the company’s stock, valued at approximately $132,000. Heron Bay Capital Management owned about 0.79% of Motorsport Games as of its most recent filing with the Securities and Exchange Commission (SEC). 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).