Massimo Group (NASDAQ:MAMO) Shares Down 1.8% – Here’s What Happened

Massimo Group (NASDAQ:MAMO) shares traded down 1.8% during trading on Thursday . The company traded as low as $1.05 and last traded at $1.07. 31,690 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 69,814 shares. The stock had previously closed at $1.09.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Massimo Group in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Massimo Group Trading Down 1.8%

The firm’s fifty day moving average price is $0.98 and its 200 day moving average price is $1.19. The stock has a market capitalization of $44.55 million, a price-to-earnings ratio of 15.29 and a beta of 0.33.

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

Institutional Investors Weigh In On Massimo Group

Several institutional investors and hedge funds have recently modified their holdings of MAMO. Goldman Sachs Group Inc. purchased a new position in Massimo Group during the 4th quarter valued at about $78,000. Geode Capital Management LLC increased 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. Millennium Management LLC acquired a new stake in shares of Massimo Group during the third quarter worth about $88,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Massimo Group during the fourth quarter worth about $69,000. Finally, Citadel Advisors LLC boosted its stake in shares of Massimo Group by 43.7% in the third quarter. Citadel Advisors LLC now owns 19,218 shares of the company’s stock valued at $45,000 after purchasing an additional 5,844 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.