Massimo Group (NASDAQ:MAMO) Sees Significant Decline in Short Interest

Massimo Group (NASDAQ:MAMO) was the target of a large decline in short interest in 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. Currently, 2.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 112,833 shares, the days-to-cover ratio is currently 1.9 days.

Massimo Group Stock Performance

Massimo Group stock traded up $0.12 on Tuesday, reaching $1.06. The company’s stock had a trading volume of 11,953,758 shares, compared to its average volume of 76,207. Massimo Group has a twelve month low of $0.85 and a twelve month high of $5.59. The business’s fifty day moving average price is $1.01 and its 200 day moving average price is $2.00. The company has a market cap of $44.14 million, a price-to-earnings ratio of 15.14 and a beta of 0.41.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Massimo Group

Several large investors have recently made changes to their positions in the company. OMERS ADMINISTRATION Corp acquired a new position in shares of Massimo Group during the fourth quarter valued at $69,000. Goldman Sachs Group Inc. acquired a new position in shares of Massimo Group during the fourth quarter valued at $78,000. Geode Capital Management LLC lifted its stake in shares of Massimo Group by 152.0% during the fourth quarter. Geode Capital Management LLC now owns 75,494 shares of the company’s stock valued at $300,000 after acquiring an additional 45,537 shares during the period. Millennium Management LLC acquired a new position in shares of Massimo Group during the third quarter valued at $88,000. Finally, Citadel Advisors LLC lifted its stake in shares of Massimo Group by 43.7% during 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 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.