Massimo Group (NASDAQ:MAMO) Sees Large Growth in Short Interest

Massimo Group (NASDAQ:MAMO) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 330,026 shares, a growth of 95.8% from the June 15th total of 168,511 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average daily volume of 1,367,769 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

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

Massimo Group Trading Down 2.9%

Massimo Group stock traded down $0.03 during midday trading on Friday, hitting $0.95. 117,811 shares of the stock were exchanged, compared to its average volume of 993,390. Massimo Group has a fifty-two week low of $0.85 and a fifty-two week high of $5.59. The stock has a market capitalization of $39.56 million, a price-to-earnings ratio of 13.57 and a beta of 0.38. The stock’s 50-day simple moving average is $0.98 and its 200 day simple moving average is $1.49.

Massimo Group (NASDAQ:MAMO) last issued its earnings results on Friday, May 15th. The company reported ($0.02) EPS for the quarter. The firm 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 Trading of Massimo Group

Several institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC lifted its holdings in 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 acquiring an additional 5,844 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Massimo Group during the fourth quarter worth $69,000. Goldman Sachs Group Inc. acquired a new stake in Massimo Group during the fourth quarter worth $78,000. Millennium Management LLC acquired a new stake in Massimo Group during the third quarter worth $88,000. Finally, 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.

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.