Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Down 32.9% in March

Motorsport Games Inc. (NASDAQ:MSGM) was the recipient of a significant decrease in short interest during the month of 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. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 34,100 shares, the short-interest ratio is presently 0.3 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 shares of Motorsport Games Inc. (NASDAQ:MSGM) during the 4th quarter, according to the company in its most recent 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 1.66% of the company’s stock.

Motorsport Games Stock Up 1.8 %

Shares of Motorsport Games stock traded up $0.02 during trading on Friday, reaching $1.11. 25,916 shares of the stock were exchanged, compared to its average volume of 482,574. The stock’s fifty day moving average is $1.28 and its 200 day moving average is $1.28. The firm has a market cap of $4.19 million, a price-to-earnings ratio of 0.69 and a beta of 2.06. Motorsport Games has a 1 year low of $1.01 and a 1 year high of $4.16.

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

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.