Short Interest in Motorsport Games Inc. (NASDAQ:MSGM) Decreases By 40.7%

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a significant 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. Based on an average daily volume of 38,972 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.7% of the company’s stock are short sold. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 38,972 shares, the days-to-cover ratio is currently 0.9 days.

Motorsport Games Price Performance

NASDAQ:MSGM traded down $0.18 during midday trading on Monday, hitting $3.72. The company’s stock had a trading volume of 59,042 shares, compared to its average volume of 44,141. Motorsport Games has a fifty-two week low of $0.73 and a fifty-two week high of $5.41. The firm has a market cap of $21.50 million, a P/E ratio of 9.30 and a beta of 1.79. The firm’s 50 day moving average is $3.48 and its 200-day moving average is $3.02.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Motorsport Games in a research note on Monday, December 29th. Wall Street Zen raised shares of Motorsport Games to a “buy” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Insider Transactions at Motorsport Games

In other news, major shareholder Mike Zoi sold 48,909 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $3.59, for a total transaction of $175,583.31. Following the transaction, the insider directly owned 1,426,517 shares of the company’s stock, valued at approximately $5,121,196.03. This represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 86,852 shares of company stock valued at $311,284 over the last 90 days. 17.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Motorsport Games

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Heron Bay Capital Management purchased a new position in shares of Motorsport Games during the 2nd quarter valued at about $132,000. Dimensional Fund Advisors LP acquired a new stake in Motorsport Games during the third quarter worth about $46,000. State Street Corp acquired a new stake in Motorsport Games during the fourth quarter worth about $39,000. HRT Financial LP purchased a new position in Motorsport Games during the fourth quarter valued at approximately $37,000. Finally, XTX Topco Ltd acquired a new position in Motorsport Games in the fourth quarter valued at approximately $34,000. 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).