Short Interest in Motorsport Games Inc. (NASDAQ:MSGM) Rises By 44.4%

Motorsport Games Inc. (NASDAQ:MSGM) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 129,800 shares, a growth of 44.4% from the May 15th total of 89,900 shares. Based on an average daily volume of 752,100 shares, the days-to-cover ratio is currently 0.2 days. Approximately 17.5% of the shares of the company are sold short.

Hedge Funds Weigh In On Motorsport Games

An institutional investor recently bought a new position in Motorsport Games stock. Citadel Advisors LLC acquired a new position in shares of Motorsport Games Inc. (NASDAQ:MSGM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,835 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned approximately 0.58% of Motorsport Games at the end of the most recent reporting period. 1.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Motorsport Games to a “buy” rating in a research note on Friday, June 6th.

Motorsport Games Price Performance

MSGM stock traded up $0.12 during midday trading on Monday, reaching $2.83. The company had a trading volume of 11,008 shares, compared to its average volume of 574,614. Motorsport Games has a 1-year low of $0.73 and a 1-year high of $3.50. The stock has a 50 day moving average price of $2.41 and a 200-day moving average price of $1.66. The company has a market capitalization of $16.34 million, a price-to-earnings ratio of 1.75 and a beta of 1.88.

Motorsport Games (NASDAQ:MSGM) last issued its earnings results on Friday, May 9th. The company reported $0.33 EPS for the quarter. The company had revenue of $1.76 million during the quarter. Motorsport Games had a net margin of 52.74% and a return on equity of 215.50%.

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 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.