Massimo Group (NASDAQ:MAMO) Announces Quarterly Earnings Results

Massimo Group (NASDAQ:MAMO) posted its earnings results on Thursday. The company reported $0.03 EPS for the quarter, Zacks reports. Massimo Group had a net margin of 6.04% and a return on equity of 17.87%. The firm had revenue of $14.92 million during the quarter.

Massimo Group Stock Performance

Shares of Massimo Group stock traded up $0.02 on Friday, hitting $1.05. The stock had a trading volume of 11,781 shares, compared to its average volume of 61,132. The stock has a 50 day moving average of $0.99 and a 200 day moving average of $1.10. The firm has a market capitalization of $43.93 million, a P/E ratio of 10.55 and a beta of 0.33. Massimo Group has a twelve month low of $0.85 and a twelve month high of $5.59.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Massimo Group in a research report on Wednesday, July 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Massimo Group currently has an average rating of “Sell”.

Hedge Funds Weigh In On Massimo Group

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