Short Interest in Massimo Group (NASDAQ:MAMO) Drops By 40.0%

Massimo Group (NASDAQ:MAMO) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 219,961 shares, a decline of 40.0% from the May 14th total of 366,324 shares. Based on an average daily volume of 112,833 shares, the days-to-cover ratio is currently 1.9 days. Currently, 2.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MAMO shares. Wall Street Zen upgraded Massimo Group from a “hold” rating to a “buy” rating in a report on Sunday, March 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Massimo Group in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Massimo Group has an average rating of “Sell”.

Hedge Funds Weigh In On Massimo Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC lifted its position in Massimo Group by 43.7% during the 3rd quarter. Citadel Advisors LLC now owns 19,218 shares of the company’s stock worth $45,000 after acquiring an additional 5,844 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Massimo Group during the 4th quarter worth approximately $69,000. Goldman Sachs Group Inc. acquired a new position in shares of Massimo Group in the 4th quarter valued at approximately $78,000. Millennium Management LLC acquired a new position in shares of Massimo Group in the 3rd quarter valued at approximately $88,000. Finally, Geode Capital Management LLC raised its position in shares of Massimo Group by 152.0% in the 4th 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 in the last quarter.

Massimo Group Stock Performance

Massimo Group stock opened at $1.06 on Wednesday. The stock’s 50 day moving average price is $1.01 and its 200 day moving average price is $2.00. The firm has a market capitalization of $44.14 million, a PE ratio of 15.14 and a beta of 0.41. Massimo Group has a one year low of $0.85 and a one year high of $5.59.

Massimo Group (NASDAQ:MAMO) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.02) EPS for the quarter. The company had revenue of $12.72 million for the quarter. Massimo Group had a return on equity of 12.15% and a net margin of 3.72%.

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.