Short Interest in Massimo Group (NASDAQ:MAMO) Decreases By 55.2%

Massimo Group (NASDAQ:MAMO) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 67,533 shares, a drop of 55.2% from the August 15th total of 150,878 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 52,653 shares, the short-interest ratio is presently 1.3 days.

Massimo Group Stock Performance

Shares of NASDAQ MAMO traded up $0.01 during mid-day trading on Monday, reaching $0.99. 2,960 shares of the company’s stock were exchanged, compared to its average volume of 776,742. The company’s 50-day moving average is $1.00 and its 200-day moving average is $1.00. The firm has a market capitalization of $41.43 million, a price-to-earnings ratio of 9.95 and a beta of 0.33. Massimo Group has a 52-week low of $0.85 and a 52-week high of $5.59.

Massimo Group (NASDAQ:MAMO) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.03 earnings per share (EPS) for the quarter. Massimo Group had a net margin of 6.04% and a return on equity of 17.60%. The firm had revenue of $14.92 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Massimo Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Massimo Group

A number of institutional investors and hedge funds have recently made changes to their positions in MAMO. Citadel Advisors LLC boosted its position in shares of 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 purchasing an additional 5,844 shares during the period. Millennium Management LLC purchased a new stake in Massimo Group in the third quarter valued at approximately $88,000. Geode Capital Management LLC raised its position 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. Goldman Sachs Group Inc. purchased a new stake in Massimo Group in the fourth quarter valued at approximately $78,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Massimo Group during the fourth quarter worth $69,000.

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.