Short Interest in Motorsport Games Inc. (NASDAQ:MSGM) Expands By 86.1%

Motorsport Games Inc. (NASDAQ:MSGM) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 91,614 shares, a growth of 86.1% from the April 30th total of 49,223 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average trading volume of 105,824 shares, the days-to-cover ratio is currently 0.9 days.

Insider Buying and Selling

In other Motorsport Games news, major shareholder Mike Zoi sold 904,395 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $4.11, for a total transaction of $3,717,063.45. Following the completion of the transaction, the insider owned 254,453 shares of the company’s stock, valued at $1,045,801.83. The trade was a 78.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 989,470 shares of company stock valued at $4,114,462. Company insiders own 4.59% of the company’s stock.

Hedge Funds Weigh In On Motorsport Games

A number of hedge funds have recently modified their holdings of MSGM. XTX Topco Ltd acquired a new position in shares of Motorsport Games in the 4th quarter worth approximately $34,000. HRT Financial LP acquired a new stake in Motorsport Games during the 4th quarter valued at $37,000. State Street Corp acquired a new stake in Motorsport Games during the 4th quarter valued at $39,000. Dimensional Fund Advisors LP bought a new position in Motorsport Games in the 3rd quarter valued at $46,000. Finally, Renaissance Technologies LLC boosted its position in Motorsport Games by 43.8% in the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock valued at $113,000 after buying an additional 8,400 shares during the last quarter. 1.66% of the stock is owned by institutional investors and hedge funds.

Motorsport Games Stock Performance

NASDAQ MSGM opened at $4.19 on Thursday. Motorsport Games has a twelve month low of $2.11 and a twelve month high of $5.56. The stock has a market capitalization of $17.47 million, a PE ratio of 3.58 and a beta of 1.67. The stock has a 50-day simple moving average of $4.27 and a 200 day simple moving average of $3.71.

Motorsport Games (NASDAQ:MSGM) last posted its quarterly earnings data on Tuesday, March 10th. The company reported $0.15 earnings per share for the quarter. The business had revenue of $3.85 million during the quarter. Motorsport Games had a return on equity of 87.43% and a net margin of 45.70%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Motorsport Games from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 30th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

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).