Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Down 76.4% in October

Motorsport Games Inc. (NASDAQ:MSGM) saw a significant decline in short interest in October. As of October 15th, there was short interest totalling 36,700 shares, a decline of 76.4% from the September 30th total of 155,600 shares. Based on an average daily volume of 1,410,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 2.2% of the company’s stock are short sold.

Motorsport Games Price Performance

Shares of NASDAQ MSGM traded up $0.02 during midday trading on Friday, hitting $1.32. 13,410 shares of the company’s stock were exchanged, compared to its average volume of 571,000. The stock’s 50 day moving average price is $1.29 and its 200-day moving average price is $1.98. The firm has a market cap of $4.98 million, a P/E ratio of 3.82 and a beta of 2.02. Motorsport Games has a twelve month low of $1.01 and a twelve month high of $4.16.

Motorsport Games (NASDAQ:MSGM) last released its earnings results on Friday, August 9th. The company reported $0.87 earnings per share for the quarter. The firm had revenue of $1.88 million during the quarter. Motorsport Games had a return on equity of 58.22% and a net margin of 11.52%.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “hold” rating and set a $5.00 target price on shares of Motorsport Games in a research report on Thursday, July 11th.

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.