Motorsport Games (NASDAQ:MSGM) Coverage Initiated by Analysts at Noble Financial

Noble Financial assumed coverage on shares of Motorsport Games (NASDAQ:MSGM) in a research note released on Tuesday, Price Targets.com reports. The brokerage issued a buy rating and a $20.00 price target on the stock.

MSGM has been the subject of a number of other research reports. Benchmark cut their price target on shares of Motorsport Games from $30.00 to $25.00 and set a buy rating for the company in a research note on Thursday, August 12th. DA Davidson started coverage on shares of Motorsport Games in a research report on Wednesday, August 18th. They set a buy rating and a $15.00 price target on the stock. Finally, Canaccord Genuity decreased their target price on shares of Motorsport Games from $40.00 to $30.00 and set a buy rating on the stock in a report on Thursday, August 12th.

NASDAQ MSGM opened at $13.87 on Tuesday. Motorsport Games has a 52 week low of $8.77 and a 52 week high of $38.00. The stock’s 50 day moving average price is $11.63 and its two-hundred day moving average price is $16.48.

Motorsport Games (NASDAQ:MSGM) last posted its quarterly earnings data on Wednesday, August 11th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.10). The firm had revenue of $2.24 million for the quarter.

A number of hedge funds and other institutional investors have recently bought and sold shares of MSGM. Victory Capital Management Inc. acquired a new stake in Motorsport Games in the first quarter valued at $558,000. Avidian Wealth Solutions LLC acquired a new stake in Motorsport Games in the first quarter valued at $551,000. Royce & Associates LP acquired a new stake in Motorsport Games in the first quarter valued at $2,977,000. Telemark Asset Management LLC acquired a new stake in Motorsport Games in the first quarter valued at $3,419,000. Finally, Geode Capital Management LLC acquired a new stake in Motorsport Games during the 1st quarter worth about $573,000. Institutional investors and hedge funds own 15.71% 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 video games for game consoles, personal computer, and mobile platforms through various retail and digital channels, including full-game and downloadable content.

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