Massimo Group (NASDAQ:MAMO) Announces Quarterly Earnings Results

Massimo Group (NASDAQ:MAMO) posted its quarterly earnings results on Friday. The company reported ($0.02) earnings per share for the quarter, FiscalAI reports. The company had revenue of $12.72 million for the quarter. Massimo Group had a return on equity of 7.49% and a net margin of 2.10%.

Massimo Group Price Performance

NASDAQ:MAMO remained flat at $0.99 during trading hours on Friday. The company had a trading volume of 107,795 shares, compared to its average volume of 344,869. The company has a market cap of $41.22 million, a PE ratio of 24.75 and a beta of 0.45. Massimo Group has a twelve month low of $0.85 and a twelve month high of $5.59. The business’s 50 day moving average is $1.02 and its two-hundred day moving average is $2.38.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Massimo Group in a research report on Friday, May 1st. Wall Street Zen upgraded Massimo Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Massimo Group presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp acquired a new stake in shares of Massimo Group in the 4th quarter valued at about $69,000. Citadel Advisors LLC boosted its stake in Massimo Group by 43.7% during the 3rd 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 last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Massimo Group during the fourth quarter valued at approximately $78,000. Millennium Management LLC bought a new stake in Massimo Group during the third quarter worth $88,000. Finally, Geode Capital Management LLC lifted 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.

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.