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

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a significant 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. Currently, 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 61,761 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 61,761 shares, the short-interest ratio is currently 0.3 days. Currently, 0.3% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Motorsport Games stock. Dimensional Fund Advisors LP bought a new stake in Motorsport Games Inc. (NASDAQ:MSGM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 16,814 shares of the company’s stock, valued at approximately $46,000. Dimensional Fund Advisors LP owned about 0.29% of Motorsport Games at the end of the most recent quarter. 1.66% of the stock is currently owned by institutional investors.

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, Based on data from MarketBeat.com, Motorsport Games presently has an average rating of “Hold”.

Motorsport Games Stock Down 0.3%

MSGM traded down $0.01 during trading on Friday, reaching $3.16. 34,939 shares of the company were exchanged, compared to its average volume of 66,499. The company has a market cap of $18.26 million, a price-to-earnings 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 company’s 50-day moving average is $2.79 and its two-hundred day moving average is $2.90.

Motorsport Games (NASDAQ:MSGM) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.10 million for the quarter. Motorsport Games had a net margin of 34.24% and a return on equity of 86.01%.

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).