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

Canaccord Genuity Group restated their hold rating on shares of Motorsport Games (NASDAQ:MSGM) in a report published on Thursday morning, Benzinga reports. They currently have a $5.00 price target on the stock.

Motorsport Games Price Performance

NASDAQ MSGM opened at $2.34 on Thursday. Motorsport Games has a fifty-two week low of $2.00 and a fifty-two week high of $8.71. The business has a fifty day moving average of $2.51 and a 200-day moving average of $2.50.

Motorsport Games (NASDAQ:MSGM) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.60) earnings per share for the quarter. Motorsport Games had a negative return on equity of 318.81% and a negative net margin of 116.76%. The company 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 bought a new stake in Motorsport Games Inc. (NASDAQ:MSGM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 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. Institutional investors own 1.66% of the company’s stock.

Motorsport Games Company Profile

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.