Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Down 64.2% in April

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totalling 41,200 shares, a decrease of 64.2% from the April 15th total of 115,100 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average daily trading volume, of 339,800 shares, the short-interest ratio is currently 0.1 days.

Motorsport Games Price Performance

NASDAQ:MSGM traded down $0.21 during trading hours on Friday, reaching $2.71. 39,855 shares of the company traded hands, compared to its average volume of 248,658. Motorsport Games has a 1-year low of $2.00 and a 1-year high of $8.71. The firm’s 50-day moving average is $2.37 and its 200-day moving average is $2.53. The stock has a market cap of $9.27 million, a P/E ratio of -0.52 and a beta of 2.04.

Motorsport Games (NASDAQ:MSGM) last released its quarterly earnings results on Monday, April 1st. The company reported $1.35 earnings per share for the quarter. Motorsport Games had a negative return on equity of 209.06% and a negative net margin of 188.90%. The firm had revenue of $1.75 million during the quarter.

Hedge Funds Weigh In On Motorsport Games

An institutional investor recently bought a new position in Motorsport Games stock. Clarity Capital Partners LLC acquired a new position in shares of Motorsport Games Inc. (NASDAQ:MSGM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 25,100 shares of the company’s stock, valued at approximately $78,000. Clarity Capital Partners LLC owned 0.73% of Motorsport Games as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors 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 video games for game consoles, personal computer, and mobile platforms through various retail and digital channels, including full-game and downloadable content.