Massimo Group (NASDAQ:MAMO) Sees Large Increase in Short Interest

Massimo Group (NASDAQ:MAMO) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 330,026 shares, a growth of 95.8% from the June 15th total of 168,511 shares. Approximately 3.5% of the company’s shares are short sold. Based on an average daily trading volume, of 1,367,769 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Massimo Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAMO. Goldman Sachs Group Inc. acquired a new position in shares of Massimo Group during the fourth quarter worth $78,000. Geode Capital Management LLC increased its holdings in Massimo Group by 152.0% in the fourth quarter. Geode Capital Management LLC now owns 75,494 shares of the company’s stock valued at $300,000 after purchasing an additional 45,537 shares during the period. Millennium Management LLC bought a new position in Massimo Group during the 3rd quarter worth $88,000. OMERS ADMINISTRATION Corp bought a new position in Massimo Group during the 4th quarter worth $69,000. Finally, Citadel Advisors LLC lifted its holdings in Massimo Group by 43.7% during the 3rd quarter. Citadel Advisors LLC now owns 19,218 shares of the company’s stock worth $45,000 after buying an additional 5,844 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Massimo Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. Weiss Ratings restated a “sell (d)” rating on shares of Massimo Group in a report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Massimo Group presently has an average rating of “Sell”.

Massimo Group Stock Down 0.7%

Shares of NASDAQ:MAMO traded down $0.01 during midday trading on Thursday, hitting $0.98. The stock had a trading volume of 38,104 shares, compared to its average volume of 999,924. The company’s 50-day moving average price is $0.98 and its 200-day moving average price is $1.51. The company has a market capitalization of $40.72 million, a P/E ratio of 13.97 and a beta of 0.38. Massimo Group has a fifty-two week low of $0.85 and a fifty-two week high of $5.59.

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

Massimo Group Company Profile

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.