Motorsport Games (NASDAQ:MSGM) Rating Reiterated by Canaccord Genuity Group

Motorsport Games (NASDAQ:MSGM)‘s stock had its “hold” rating reaffirmed by research analysts at Canaccord Genuity Group in a report released on Thursday, Benzinga reports. They currently have a $5.00 price target on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 118.34% from the stock’s current price.

Motorsport Games Stock Performance

Shares of NASDAQ:MSGM opened at $2.29 on Thursday. Motorsport Games has a 52-week low of $2.00 and a 52-week high of $8.71. The firm has a fifty day moving average of $2.51 and a 200 day moving average of $2.49. The firm has a market capitalization of $7.83 million, a PE ratio of -0.65 and a beta of 2.04.

Motorsport Games (NASDAQ:MSGM) last announced its earnings results on Tuesday, May 7th. The company reported ($0.60) earnings per share (EPS) 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

A hedge fund recently bought a new stake in Motorsport Games stock. Clarity Capital Partners LLC acquired a new position in Motorsport Games Inc. (NASDAQ:MSGM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,100 shares of the company’s stock, valued at approximately $78,000. Clarity Capital Partners LLC owned 0.73% of Motorsport Games as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 1.66% of the company’s stock.

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.