Motorsport Games Inc. (NASDAQ:MSGM) Stock Short Interest Climbs 99.1%

Motorsport Games Inc. (NASDAQ:MSGM) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 101,569 shares, an increase of 99.1% from the August 31st total of 51,017 shares. Based on an average daily volume of 160,505 shares, the short-interest ratio is currently 0.6 days. Approximately 2.6% of the shares of the company are short sold.

Analyst Ratings Changes

MSGM has been the subject of a number of recent analyst reports. Wall Street Zen raised Motorsport Games to a “buy” rating in a report on Saturday, September 26th. Zacks Research raised Motorsport Games from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 31st. Finally, Weiss Ratings upgraded Motorsport Games from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Motorsport Games Stock Performance

MSGM opened at $4.87 on Thursday. The company has a market capitalization of $20.31 million, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 0.61 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.85 and a quick ratio of 1.85. Motorsport Games has a 1-year low of $2.11 and a 1-year high of $5.56. The business has a 50 day moving average price of $4.30 and a two-hundred day moving average price of $4.28.

Motorsport Games (NASDAQ:MSGM) last issued its quarterly 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. Motorsport Games had a return on equity of 41.13% and a net margin of 16.15%.The firm had revenue of $3.54 million during the quarter, compared to analyst estimates of $2.90 million. Research analysts predict that Motorsport Games will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Red Oak Partners, Llc purchased 23,143 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were bought at an average price of $3.86 per share, for a total transaction of $89,331.98. Following the completion of the purchase, the insider owned 333,410 shares of the company’s stock, valued at $1,286,962.60. This trade represents a 7.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have bought 72,779 shares of company stock valued at $283,660. 4.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

Motorsport Games Company Profile

Motorsport Games Inc is a video game developer and publisher focused on racing and motorsport entertainment. The company creates and distributes interactive experiences based on licensed racing series, teams and events, with products designed for console and personal computer platforms.

Its portfolio has included the NASCAR Heat franchise, NASCAR 21: Ignition and titles associated with the 24 Hours of Le Mans and other major racing championships. Motorsport Games also owns Studio 397, the developer of the rFactor 2 racing simulation platform, and has published Le Mans Ultimate, an officially licensed endurance-racing game.

The company distributes its games internationally through digital storefronts and other retail channels, serving players across North America, Europe and additional global markets.