Motorsport Games (NASDAQ:MSGM) Receives “Hold” Rating from Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their hold rating on shares of Motorsport Games (NASDAQ:MSGM) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a $5.00 price objective on the stock.

Motorsport Games Stock Performance

NASDAQ MSGM opened at $2.29 on Thursday. The business has a fifty day moving average price of $2.51 and a 200 day moving average price of $2.49. The company has a market cap of $7.83 million, a P/E ratio of -0.65 and a beta of 2.04. Motorsport Games has a one year low of $2.00 and a one year high of $8.71.

Motorsport Games (NASDAQ:MSGM) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.60) earnings per share for the quarter. Motorsport Games had a negative net margin of 116.76% and a negative return on equity of 318.81%. The firm had revenue of $3.03 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 stake in Motorsport Games Inc. (NASDAQ:MSGM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 25,100 shares of the company’s stock, valued at approximately $78,000. Clarity Capital Partners LLC owned about 0.73% of Motorsport Games at the end of the most recent quarter. 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 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.