Massimo Group (NASDAQ:MAMO) Sees Significant Drop in Short Interest

Massimo Group (NASDAQ:MAMO) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 219,961 shares, a drop of 40.0% from the May 14th total of 366,324 shares. Based on an average daily volume of 112,833 shares, the short-interest ratio is presently 1.9 days. Currently, 2.4% of the company’s shares are short sold.

Massimo Group Stock Down 1.0%

Shares of MAMO traded down $0.01 during trading on Monday, reaching $0.94. 49,485 shares of the company traded hands, compared to its average volume of 1,057,879. Massimo Group has a twelve month low of $0.85 and a twelve month high of $5.59. The stock has a market cap of $39.19 million, a PE ratio of 13.45 and a beta of 0.41. The stock has a 50-day simple moving average of $1.01 and a 200-day simple moving average of $2.04.

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 company had revenue of $12.72 million for the quarter.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Massimo Group

Institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC increased 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 valued at $45,000 after acquiring an additional 5,844 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Massimo Group during the fourth quarter valued at about $69,000. Goldman Sachs Group Inc. acquired a new stake in shares of Massimo Group during the fourth quarter valued at about $78,000. Millennium Management LLC acquired a new stake in shares of Massimo Group during the third quarter valued at about $88,000. Finally, Geode Capital Management LLC increased its position in shares of Massimo Group by 152.0% during the fourth quarter. Geode Capital Management LLC now owns 75,494 shares of the company’s stock valued at $300,000 after acquiring an additional 45,537 shares during the last 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.