Massimo Group (NASDAQ:MAMO) Short Interest Down 55.2% in August

Massimo Group (NASDAQ:MAMO) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 67,533 shares, a decline of 55.2% from the August 15th total of 150,878 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily volume of 52,653 shares, the short-interest ratio is currently 1.3 days.

Massimo Group Trading Up 1.2%

Shares of MAMO traded up $0.01 during trading hours on Wednesday, hitting $0.97. The company had a trading volume of 8,322 shares, compared to its average volume of 768,158. The company has a market capitalization of $40.27 million, a PE ratio of 9.67 and a beta of 0.33. Massimo Group has a one year low of $0.85 and a one year high of $5.59. The company’s fifty day moving average price is $1.00 and its two-hundred day moving average price is $1.00.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Massimo Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. 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”.

Hedge Funds Weigh In On Massimo Group

An institutional investor recently bought a new position in Massimo Group stock. Bank of America Corp DE acquired a new position in shares of Massimo Group (NASDAQ:MAMO) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 250,000 shares of the company’s stock, valued at approximately $241,000. Bank of America Corp DE owned approximately 0.60% of Massimo Group at the end of the most recent 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.