Short Interest in Motorsport Games Inc. (NASDAQ:MSGM) Expands By 117.2%

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 47,249 shares, an increase of 117.2% from the March 15th total of 21,749 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 69,496 shares, the days-to-cover ratio is presently 0.7 days.

Motorsport Games Stock Up 5.8%

Shares of MSGM traded up $0.21 during mid-day trading on Monday, reaching $3.85. The company’s stock had a trading volume of 46,889 shares, compared to its average volume of 59,769. The business has a fifty day moving average of $3.86 and a 200 day moving average of $3.27. The company has a market cap of $22.25 million, a price-to-earnings ratio of 2.67 and a beta of 1.77. Motorsport Games has a 1 year low of $0.83 and a 1 year high of $5.41.

Motorsport Games (NASDAQ:MSGM) last released its earnings results on Tuesday, March 10th. The company reported $0.15 earnings per share (EPS) for the quarter. The company had revenue of $3.85 million during the quarter. Motorsport Games had a return on equity of 129.70% and a net margin of 61.31%.

Analyst Ratings Changes

Several research firms have recently weighed in on MSGM. Weiss Ratings reissued a “hold (c-)” rating on shares of Motorsport Games in a research note on Monday, December 29th. Wall Street Zen raised Motorsport Games from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Motorsport Games currently has a consensus rating of “Hold”.

Insider Buying and Selling at Motorsport Games

In other news, major shareholder Mike Zoi sold 31,131 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $4.51, for a total transaction of $140,400.81. Following the completion of the sale, the insider directly owned 1,158,848 shares of the company’s stock, valued at $5,226,404.48. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 321,537 shares of company stock worth $1,348,505. Company insiders own 4.58% of the company’s stock.

Institutional Trading of Motorsport Games

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new stake in shares of Motorsport Games during the third quarter worth $46,000. State Street Corp purchased a new stake in shares of Motorsport Games during the fourth quarter worth $39,000. HRT Financial LP purchased a new stake in shares of Motorsport Games during the fourth quarter worth $37,000. Finally, XTX Topco Ltd purchased a new stake in shares of Motorsport Games during the fourth quarter worth $34,000. 1.66% of the stock is currently owned by hedge funds and other institutional investors.

Motorsport Games Company Profile

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).