Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Down 16.6% in July

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 29,600 shares, a decline of 16.6% from the June 30th total of 35,500 shares. Based on an average trading volume of 185,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 2.4% of the shares of the company are short sold.

Institutional Investors Weigh In On Motorsport Games

An institutional investor recently bought a new stake in Motorsport Games stock. Clarity Capital Partners LLC acquired a new position in shares of Motorsport Games Inc. (NASDAQ:MSGM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 25,100 shares of the company’s stock, valued at approximately $78,000. Clarity Capital Partners LLC owned 0.73% of Motorsport Games at the end of the most recent reporting period. 1.66% of the stock is currently owned by hedge funds and other institutional investors.

Motorsport Games Stock Down 7.6 %

Shares of MSGM traded down $0.17 during midday trading on Friday, reaching $2.01. 43,796 shares of the stock were exchanged, compared to its average volume of 9,746. The stock’s 50 day simple moving average is $2.40 and its 200 day simple moving average is $2.44. Motorsport Games has a twelve month low of $1.95 and a twelve month high of $8.71.

Motorsport Games (NASDAQ:MSGM) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.60) EPS for the quarter. The business had revenue of $3.03 million for the quarter. Motorsport Games had a negative return on equity of 318.81% and a negative net margin of 116.76%.

Analyst Ratings Changes

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

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.