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

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 16,234 shares, a decline of 49.6% from the November 30th total of 32,223 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 61,761 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 61,761 shares, the short-interest ratio is currently 0.3 days. Approximately 0.3% of the company’s shares are short sold.

Motorsport Games Price Performance

Shares of MSGM traded down $0.01 during trading hours on Friday, hitting $3.16. The stock had a trading volume of 34,939 shares, compared to its average volume of 66,499. The firm has a market capitalization of $18.26 million, a PE ratio of 7.90 and a beta of 1.77. Motorsport Games has a 12 month low of $0.73 and a 12 month high of $5.41. The stock has a fifty day moving average price of $2.79 and a 200 day moving average price of $2.90.

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 firm had revenue of $3.10 million during the quarter. Motorsport Games had a net margin of 34.24% and a return on equity of 86.01%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Motorsport Games stock. Heron Bay Capital Management acquired a new stake in Motorsport Games Inc. (NASDAQ:MSGM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 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 SEC. 1.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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).