The stock of Motorsport Games Inc. (NASDAQ:MSGM) decreased by -$0.69 on Friday to finish at $5.52, down -11.11 percent. The last five days have seen an average of 489,660 shares of common stock traded. 3 times new highs were reached in the current year, with a gain of $1.37. The average number of shares traded over the last 20 days was 1,580,170, while the average volume over the last 50 days totaled 652,388.
MSGM stock appreciated 36.46% since last month. On 07/26/23, the company’s shares reached a one-month low of $3.17. The stock touched a high of $49.50 on 02/01/23, after rallying from a low of $2.01 in 52 weeks. The price of MSGM stock has risen by 33.01% or $1.37 this year, reaching a new high 3 times. Still, the stock price is down -88.85% from the 52-week high.
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Insider Transactions
MSGM stock investors should be aware that Motorsport Games Inc. (MSGM) stock had its last reported insider trading activity 194 days ago on Feb 01. On Feb 01, 10% Owner ZOI MIKE acquired 441,402 shares at $6.68 each. This transaction resulted in the insider spending $2,948,565. On Jan 30, ZOI MIKE added 338,983 shares at a price of US$2.95. After the transaction, the insider now owns 1,038,983 shares.
Valuation Metrics
Beta for the stock is 2.08. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 6.92, the price-to-book (PB) ratio of 1.09.
Financial Health
For the three months ended March 30, Motorsport Games Inc.’s quick ratio was 1.20, while its current ratio was 1.20, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending March 30 is 0.03, and the total debt to equity ratio is 0.06. As far as profitability goes, gross margin for the trailing twelve months is 52.00% percent. Based on annual data, it had gross profit of $5.36 million and revenue of $10.32 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MSGM’s return on assets (ROA) during the last 12 months has been -119.70%. In the meantime, the return on equity (ROE) for the last 12 months was -304.00%.
Earnings Surprise
According to Motorsport Games Inc.’s quarterly financial report for the quarter that ended March 30. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $3.77 million, while revenues rose by 216.18% to $1.22 million. It was predicted that Motorsport Games Inc.’s quarterly earnings would be -$2.33, but it ended up being -$3.35, beating the consensus by 30.40%. EBITDA was -$4.91 million for the quarter. At the end of Motorsport Games Inc.’s most recent quarter ended March 30, its liabilities totaled 10.8 million, while its total debt was $0.6 million. Equity owned by shareholders amounts to $3.4 million.
Technical Picture
Here’s a quick look at Motorsport Games Inc.’s (MSGM) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 55.52%, suggesting the stock is Neutral, with a 428.16% historical volatility rate.
The stochastic %K and %D were 48.07% and 48.81% respectively, while the average true range (ATR) was 1.13. Based on the 14-day stochastic reading of 42.42%, the RSI (14) reading is 56.07%. On the 9-day MACD Oscillator, the stock is at 0.11, and the 14-day reading is at 0.96.
Analyst Ratings
In its analyst report released on August 19, 2021, DA Davidson began covering Motorsport Games Inc. (NASDAQ: MSGM). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Motorsport Games Inc. (MSGM) an Hold rating. MSGM is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 0 others recommend it as a buy.
What is MSGM’s price target for the next 12 months?
The current consensus forecast for the stock is between $5.00 and $5.00, with a median target price of $5.00. In analyzing these forecasts, the average price target given by analysts for Motorsport Games Inc. (MSGM) is $5.00.
