Motorsport Games (NASDAQ:MSGM) Trading Up 0.2% – Here’s Why

Motorsport Games Inc. (NASDAQ:MSGM)’s share price was up 0.2% on Monday . The company traded as high as $2.95 and last traded at $2.84. Approximately 21,876 shares traded hands during mid-day trading, an increase of 46% from the average daily volume of 14,949 shares. The stock had previously closed at $2.83.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Motorsport Games to a “buy” rating in a research report on Saturday, July 12th.

Motorsport Games Price Performance

The firm has a market capitalization of $16.39 million, a PE ratio of 10.90 and a beta of 1.83. The stock’s 50-day moving average price is $3.15 and its 200 day moving average price is $2.48.

Motorsport Games (NASDAQ:MSGM) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.82 earnings per share (EPS) for the quarter. The company had revenue of $2.59 million for the quarter. Motorsport Games had a net margin of 30.12% and a return on equity of 94.30%.

Institutional Investors Weigh In On Motorsport Games

Several institutional investors and hedge funds have recently made changes to their positions in MSGM. Heron Bay Capital Management purchased a new position in shares of Motorsport Games during the second quarter worth $132,000. Connective Capital Management LLC grew its stake in Motorsport Games by 354.9% during the 1st quarter. Connective Capital Management LLC now owns 74,000 shares of the company’s stock valued at $78,000 after acquiring an additional 57,733 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Motorsport Games in the fourth quarter valued at approximately $29,000. 1.66% of the stock is currently owned by institutional investors and hedge funds.

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.