Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Update

Motorsport Games Inc. (NASDAQ:MSGM) saw a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 35,724 shares, a decline of 40.7% from the January 29th total of 60,256 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily volume of 38,972 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 38,972 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.7% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

MSGM has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Motorsport Games in a report on Monday, December 29th. Wall Street Zen upgraded Motorsport Games to a “buy” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Motorsport Games Stock Up 5.4%

Shares of MSGM stock traded up $0.20 during trading hours on Friday, hitting $3.90. 66,686 shares of the company’s stock traded hands, compared to its average volume of 44,141. The stock has a market cap of $22.54 million, a PE ratio of 9.75 and a beta of 1.79. The stock’s 50 day simple moving average is $3.47 and its 200 day simple moving average is $3.01. Motorsport Games has a 12 month low of $0.73 and a 12 month high of $5.41.

Insider Transactions at Motorsport Games

In related news, major shareholder Mike Zoi sold 48,909 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $3.59, for a total value of $175,583.31. Following the completion of the transaction, the insider owned 1,426,517 shares of the company’s stock, valued at $5,121,196.03. This represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 86,852 shares of company stock worth $311,284. 17.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in shares of Motorsport Games in the fourth quarter valued at about $34,000. HRT Financial LP bought a new position in Motorsport Games during the 4th quarter worth approximately $37,000. State Street Corp bought a new position in Motorsport Games during the 4th quarter worth approximately $39,000. Dimensional Fund Advisors LP acquired a new position in shares of Motorsport Games in the 3rd quarter worth approximately $46,000. Finally, Heron Bay Capital Management bought a new stake in shares of Motorsport Games in the 2nd quarter valued at $132,000. 1.66% of the stock is owned by institutional investors and hedge funds.

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).