Massimo Group (NASDAQ:MAMO) Issues Quarterly Earnings Results

Massimo Group (NASDAQ:MAMO) issued its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share (EPS) for the quarter, FiscalAI reports. Massimo Group had a negative net margin of 1.17% and a negative return on equity of 3.96%. The company had revenue of $21.02 million during the quarter.

Massimo Group Price Performance

Shares of MAMO traded up $0.01 during mid-day trading on Wednesday, reaching $1.01. The company’s stock had a trading volume of 6,308 shares, compared to its average volume of 802,062. Massimo Group has a 12-month low of $0.85 and a 12-month high of $5.59. The stock has a market cap of $42.06 million, a PE ratio of -50.47 and a beta of 0.52. The company’s 50 day moving average is $1.43 and its 200 day moving average is $2.78.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Massimo Group from a “hold” rating to a “buy” rating in a report on Sunday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On Massimo Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake 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 last quarter. Millennium Management LLC purchased a new stake in shares of Massimo Group during the 3rd quarter worth approximately $88,000. Goldman Sachs Group Inc. purchased a new stake in shares of Massimo Group during the 4th quarter worth approximately $78,000. Citadel Advisors LLC boosted its holdings in shares of Massimo Group by 43.7% in the 3rd quarter. Citadel Advisors LLC now owns 19,218 shares of the company’s stock valued at $45,000 after buying an additional 5,844 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Massimo Group in the 4th quarter valued at $69,000.

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.