Short Interest in Motorsport Games Inc. (NASDAQ:MSGM) Rises By 1,062.6%

Motorsport Games Inc. (NASDAQ:MSGM) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 115,100 shares, a growth of 1,062.6% from the March 31st total of 9,900 shares. Currently, 9.3% of the company’s shares are short sold. Based on an average trading volume of 223,900 shares, the days-to-cover ratio is presently 0.5 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 position in shares of Motorsport Games Inc. (NASDAQ:MSGM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,100 shares of the company’s stock, valued at approximately $78,000. Clarity Capital Partners LLC owned approximately 0.73% of Motorsport Games at the end of the most recent reporting period. 1.66% of the stock is owned by institutional investors and hedge funds.

Motorsport Games Price Performance

Shares of Motorsport Games stock traded down $0.10 during midday trading on Thursday, reaching $2.52. The company had a trading volume of 11,970 shares, compared to its average volume of 183,656. The firm has a market cap of $8.62 million, a PE ratio of -0.48 and a beta of 2.15. Motorsport Games has a fifty-two week low of $2.00 and a fifty-two week high of $8.71. The stock has a fifty day moving average price of $2.36 and a 200 day moving average price of $2.60.

Motorsport Games (NASDAQ:MSGM) last announced its earnings results on Monday, April 1st. The company reported $1.35 EPS for the quarter. The company had revenue of $1.75 million for the quarter. Motorsport Games had a negative return on equity of 209.06% and a negative net margin of 188.90%.

About Motorsport Games

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 video games for game consoles, personal computer, and mobile platforms through various retail and digital channels, including full-game and downloadable content.