Massimo Group (NASDAQ:MAMO) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Massimo Group (NASDAQ:MAMO) from a buy rating to a hold rating in a report issued on Saturday morning.

Massimo Group Trading Down 1.6%

Shares of Massimo Group stock opened at $0.94 on Friday. The firm has a fifty day simple moving average of $1.82 and a 200-day simple moving average of $2.86. The stock has a market capitalization of $39.03 million, a price-to-earnings ratio of -46.84 and a beta of 0.52. Massimo Group has a 1-year low of $0.85 and a 1-year high of $5.59.

Institutional Investors Weigh In On Massimo Group

A number of hedge funds have recently bought and sold shares of MAMO. OMERS ADMINISTRATION Corp acquired a new stake in shares of Massimo Group in the fourth quarter valued at about $69,000. Goldman Sachs Group Inc. acquired a new position in shares of Massimo Group during the 4th quarter worth about $78,000. Geode Capital Management LLC boosted its stake in Massimo Group by 152.0% during 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 during the period. Millennium Management LLC bought a new stake in Massimo Group during the 3rd quarter valued at approximately $88,000. Finally, Citadel Advisors LLC grew its holdings in Massimo Group by 43.7% in the 3rd quarter. Citadel Advisors LLC now owns 19,218 shares of the company’s stock valued at $45,000 after buying an additional 5,844 shares during the last 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.