Motorsport Games (NASDAQ:MSGM) Stock Breaks Above 200 Day Moving Average – Here’s What Happened

Shares of Motorsport Games Inc. (NASDAQ:MSGM) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $4.29 and traded as high as $4.36. Motorsport Games shares last traded at $4.30, with a volume of 132,920 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Zacks Research cut Motorsport Games from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Weiss Ratings raised Motorsport Games from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 11th. Finally, Wall Street Zen upgraded shares of Motorsport Games to a “buy” rating in a research note on Saturday, September 26th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Motorsport Games has a consensus rating of “Hold”.

Motorsport Games Price Performance

The company has a market cap of $18.14 million, a price-to-earnings ratio of 10.12, a PEG ratio of 0.58 and a beta of 2.03. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average price is $4.73 and its two-hundred day moving average price is $4.30.

Motorsport Games (NASDAQ:MSGM) last announced its earnings results on Friday, August 14th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. The business had revenue of $3.54 million for the quarter, compared to analyst estimates of $2.90 million. Motorsport Games had a return on equity of 41.13% and a net margin of 16.15%. On average, equities research analysts forecast that Motorsport Games Inc. will post 0.30 EPS for the current fiscal year.

Insider Activity

In other Motorsport Games news, major shareholder Red Oak Partners, Llc acquired 23,143 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were acquired at an average price of $3.86 per share, with a total value of $89,331.98. Following the completion of the transaction, the insider directly owned 333,410 shares in the company, valued at $1,286,962.60. This trade represents a 7.46% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 72,779 shares of company stock valued at $283,660 in the last 90 days. 4.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Motorsport Games

An institutional investor recently raised its stake in Motorsport Games stock. Renaissance Technologies LLC increased its stake in shares of Motorsport Games Inc. (NASDAQ:MSGM) by 43.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,600 shares of the company’s stock after acquiring an additional 8,400 shares during the period. Renaissance Technologies LLC owned about 0.48% of Motorsport Games worth $113,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 1.66% of the company’s stock.

About Motorsport Games

Motorsport Games Inc. (NASDAQ: MSGM) is a video game developer and publisher focused on racing and motorsport entertainment. The company creates and distributes racing games for consoles and personal computers, and supports related online, competitive and esports experiences. Its portfolio has included officially licensed motorsport titles and racing technology platforms. Motorsport Games has been associated with products such as Le Mans Ultimate , the official game of the FIA World Endurance Championship, and rFactor 2 , a racing simulation platform developed by its Studio 397 business.