Short Interest in Motorsport Games Inc. (NASDAQ:MSGM) Declines By 32.9%

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 9,800 shares, a decrease of 32.9% from the February 28th total of 14,600 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 34,100 shares, the days-to-cover ratio is currently 0.3 days.

Motorsport Games Trading Up 1.8 %

Shares of MSGM stock traded up $0.02 during trading hours on Friday, hitting $1.11. 25,916 shares of the company’s stock were exchanged, compared to its average volume of 482,574. The company has a market capitalization of $4.19 million, a PE ratio of 0.69 and a beta of 2.06. Motorsport Games has a 12-month low of $1.01 and a 12-month high of $4.16. The business’s 50 day simple moving average is $1.28 and its 200-day simple moving average is $1.28.

Motorsport Games (NASDAQ:MSGM) last released its earnings results on Thursday, March 20th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.41). The business had revenue of $1.97 million for the quarter, compared to the consensus estimate of $3.30 million. Motorsport Games had a net margin of 52.74% and a return on equity of 215.50%. During the same period in the prior year, the business posted $0.97 EPS.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Motorsport Games stock. Citadel Advisors LLC purchased a new position in shares of Motorsport Games Inc. (NASDAQ:MSGM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 21,835 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned about 0.58% of Motorsport Games at the end of the most recent reporting period. Institutional investors and hedge funds own 1.66% of the company’s stock.

About Motorsport Games

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.