Massimo Group (NASDAQ:MAMO) Stock Price Down 1.4% – Here’s Why

Massimo Group (NASDAQ:MAMO) dropped 1.4% during trading on Thursday . The stock traded as low as $0.9201 and last traded at $0.9260. 11,373 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 713,764 shares. The stock had previously closed at $0.9393.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Massimo Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Massimo Group in a research report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Massimo Group Stock Performance

The company has a market capitalization of $38.93 million, a price-to-earnings ratio of 13.36 and a beta of 0.38. The company has a 50-day moving average price of $0.98 and a 200-day moving average price of $1.59.

Massimo Group (NASDAQ:MAMO) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.02) earnings per share for the quarter. Massimo Group had a net margin of 3.72% and a return on equity of 12.15%. The firm had revenue of $12.71 million during the quarter.

Institutional Investors Weigh In On Massimo Group

Hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC boosted its position in shares of Massimo Group by 43.7% during the third quarter. Citadel Advisors LLC now owns 19,218 shares of the company’s stock worth $45,000 after purchasing an additional 5,844 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Massimo Group in the 4th quarter valued at $69,000. Goldman Sachs Group Inc. bought a new stake in shares of Massimo Group in the 4th quarter valued at $78,000. Millennium Management LLC acquired a new stake in Massimo Group during the 3rd quarter worth $88,000. Finally, Geode Capital Management LLC raised its stake in Massimo Group by 152.0% during the 4th quarter. Geode Capital Management LLC now owns 75,494 shares of the company’s stock worth $300,000 after buying an additional 45,537 shares during the period.

About Massimo Group

Massimo Group, through its subsidiaries, engages in the manufacturing and sale of utility terrain vehicles, all-terrain vehicles, and pontoon and tritoon boats. The company also offers motorcycles, scooters, golf carts, and go karts and balance bikes, as well as snow equipment. In addition, it provides accessories, including EV chargers, electric coolers, power stations, and portable solar panels. The company sells its products through a network of dealerships, distributors, and chain stores, as well as the e-commerce marketplace.