Short Interest in Massimo Group (NASDAQ:MAMO) Declines By 44.6%

Massimo Group (NASDAQ:MAMO) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 159,999 shares, a decrease of 44.6% from the July 15th total of 288,758 shares. Based on an average daily trading volume, of 77,609 shares, the short-interest ratio is presently 2.1 days. Approximately 1.7% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Massimo Group Stock Down 1.9%

Shares of MAMO traded down $0.02 during midday trading on Tuesday, hitting $1.04. The company had a trading volume of 56,864 shares, compared to its average volume of 862,033. The stock has a market cap of $43.31 million, a price-to-earnings ratio of 10.40 and a beta of 0.33. The company’s 50 day moving average price is $0.99 and its 200 day moving average price is $1.07. Massimo Group has a 52 week low of $0.85 and a 52 week high of $5.59.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new stake in shares of Massimo Group in the 2nd quarter worth approximately $241,000. Geode Capital Management LLC grew its holdings 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 acquiring an additional 45,537 shares during the period. Millennium Management LLC bought a new stake in Massimo Group in the third quarter worth about $88,000. BlackRock Inc. acquired a new stake in Massimo Group in the 2nd quarter valued at about $30,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Massimo Group in the 4th quarter valued at about $78,000.

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.