Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Up 44.4% in May

Motorsport Games Inc. (NASDAQ:MSGM) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 129,800 shares, an increase of 44.4% from the May 15th total of 89,900 shares. Approximately 17.5% of the company’s shares are short sold. Based on an average daily volume of 752,100 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Motorsport Games stock. Citadel Advisors LLC purchased a new stake in Motorsport Games Inc. (NASDAQ:MSGM) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 21,835 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned 0.58% of Motorsport Games as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Motorsport Games to a “buy” rating in a research report on Friday, June 6th.

Motorsport Games Trading Up 4.3%

MSGM stock traded up $0.12 during trading on Monday, hitting $2.83. The company had a trading volume of 11,008 shares, compared to its average volume of 574,614. Motorsport Games has a one year low of $0.73 and a one year high of $3.50. The business has a 50-day moving average of $2.41 and a 200-day moving average of $1.66. The stock has a market cap of $16.34 million, a PE ratio of 1.75 and a beta of 1.88.

Motorsport Games (NASDAQ:MSGM) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.33 earnings per share for the quarter. The company had revenue of $1.76 million during the quarter. Motorsport Games had a net margin of 52.74% and a return on equity of 215.50%.

Motorsport Games Company Profile

Motorsport Games Inc develops and publishes multi-platform racing video games in the United States. It operates through Gaming and Esports segments. The company offers rFactor 2, a realistic racing simulation game; NASCAR Heat Mobile, a racing experience for mobile devices; NASCAR Heat 3, NASCAR Heat 4, NASCAR Heat 5, NASCAR Heat Ultimate Edition, and NASCAR 21: Ignition, which are racing video games; KartKraft, a kart racing simulator; NASCAR Rivals, a racing video game; and Le Mans Ultimate, a official game of the FIA World Endurance Championship and 24 Hours of Le Mans.