Motorsport Games (NASDAQ:MSGM) Stock Price Down 8.6%

Shares of Motorsport Games Inc. (NASDAQ:MSGM – Get Rating) were down 8.6% during mid-day trading on Tuesday . The company traded as low as $3.29 and last traded at $3.29. Approximately 30,448 shares changed hands during trading, a decline of 89% from the average daily volume of 269,885 shares. The stock had previously closed at $3.60.

Motorsport Games Trading Down 8.6 %

The business’s 50 day moving average is $4.42 and its two-hundred day moving average is $2.21. The company has a market cap of $6.14 million, a PE ratio of -0.10 and a beta of -0.83.

Motorsport Games (NASDAQ:MSGM – Get Rating) last released its earnings results on Friday, November 18th. The company reported ($7.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.90) by ($2.39). Motorsport Games had a negative net margin of 257.60% and a negative return on equity of 140.22%. The firm had revenue of $1.22 million for the quarter, compared to analysts’ expectations of $2.85 million.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Motorsport Games stock. Alliancebernstein L.P. bought a new stake in shares of Motorsport Games Inc. (NASDAQ:MSGM – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 122,168 shares of the company’s stock, valued at approximately $70,000. Alliancebernstein L.P. owned approximately 6.54% of Motorsport Games as of its most recent filing with the Securities and Exchange Commission. 17.16% of the stock is currently owned by institutional investors.

About Motorsport Games

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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 video games for game consoles, personal computer, and mobile platforms through various retail and digital channels, including full-game and downloadable content.