Massimo Group (NASDAQ:MAMO) Short Interest Down 44.6% in July

Massimo Group (NASDAQ:MAMO) was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 159,999 shares, a decline 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. Currently, 1.7% of the shares of the company are sold short.

Hedge Funds Weigh In On Massimo Group

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE purchased a new stake in Massimo Group during the second quarter worth $241,000. BlackRock Inc. acquired a new position in Massimo Group in the 2nd quarter worth about $30,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Massimo Group during the 4th quarter worth approximately $69,000. Goldman Sachs Group Inc. acquired a new position in Massimo Group during the fourth quarter worth $78,000. Finally, Geode Capital Management LLC raised its position in shares of Massimo Group by 152.0% during the 4th 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 last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Massimo Group in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Massimo Group currently has a consensus rating of “Sell”.

Massimo Group Stock Down 1.9%

Shares of NASDAQ MAMO opened at $1.04 on Wednesday. Massimo Group has a 52 week low of $0.85 and a 52 week high of $5.59. The business’s 50 day moving average price is $0.99 and its 200 day moving average price is $1.05. The firm has a market cap of $43.31 million, a P/E ratio of 10.40 and a beta of 0.33.

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

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.