Motorsport Games (NASDAQ:MSGM) Trading Up 5% – Here’s What Happened

Motorsport Games Inc. (NASDAQ:MSGM)’s stock price shot up 5% on Wednesday . The stock traded as high as $1.26 and last traded at $1.26. 11,832 shares were traded during mid-day trading, a decline of 98% from the average session volume of 590,218 shares. The stock had previously closed at $1.20.

Analysts Set New Price Targets

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

Motorsport Games Trading Up 5.0 %

The firm has a 50-day moving average of $1.31 and a 200 day moving average of $2.01. The stock has a market capitalization of $4.31 million, a price-to-earnings ratio of -0.35 and a beta of 2.02.

Motorsport Games (NASDAQ:MSGM) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.87 EPS for the quarter. The company had revenue of $1.88 million for the quarter. Motorsport Games had a return on equity of 58.22% and a net margin of 11.52%.

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.