Motorsport Games (NASDAQ:MSGM) Upgraded by Wall Street Zen to “Buy” Rating

Motorsport Games (NASDAQ:MSGM) was upgraded by equities researchers at Wall Street Zen to a “buy” rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Motorsport Games in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Motorsport Games Stock Down 5.7%

Motorsport Games stock opened at $4.12 on Friday. Motorsport Games has a 52 week low of $0.73 and a 52 week high of $5.41. The stock has a market cap of $23.81 million, a price-to-earnings ratio of 10.30 and a beta of 1.76. The business has a 50-day simple moving average of $3.17 and a 200 day simple moving average of $3.00.

Motorsport Games (NASDAQ:MSGM) last announced its earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.10 million during the quarter. Motorsport Games had a net margin of 34.24% and a return on equity of 86.01%.

Hedge Funds Weigh In On Motorsport Games

An institutional investor recently bought a new position in Motorsport Games stock. Heron Bay Capital Management purchased a new stake in Motorsport Games Inc. (NASDAQ:MSGM) during the second quarter, according to its most recent filing with the SEC. The fund purchased 45,416 shares of the company’s stock, valued at approximately $132,000. Heron Bay Capital Management owned about 0.79% of Motorsport Games as of its most recent filing with the SEC. 1.66% of the stock is currently owned by hedge funds and other institutional investors.

Motorsport Games Company Profile

Motorsport Games, Inc is a publicly traded developer and publisher of interactive motorsport entertainment, headquartered in Miami, Florida. The company specializes in creating officially licensed racing simulation titles and managing associated esports competitions. By focusing exclusively on the motorsport genre, Motorsport Games aims to deliver authentic digital experiences that mirror the rules, tracks and vehicles of real-world racing series.

The company’s core activities include the development of video games under licenses from major sanctioning bodies such as NASCAR, the Fédération Internationale de l’Automobile (FIA) and International Motor Sports Association (IMSA).