Massimo Group (NASDAQ:MAMO) Trading Down 0% – Here’s Why

Massimo Group (NASDAQ:MAMO)’s share price was down 0% during mid-day trading on Tuesday . The stock traded as low as $0.9651 and last traded at $0.9699. Approximately 34,947 shares were traded during trading, a decline of 62% from the average daily volume of 91,069 shares. The stock had previously closed at $0.97.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MAMO shares. Wall Street Zen upgraded Massimo Group from a “hold” rating to a “buy” rating in a research 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 equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Massimo Group currently has a consensus rating of “Sell”.

Massimo Group Trading Down 3.1%

The business’s 50-day moving average is $1.01 and its two-hundred day moving average is $2.18. The stock has a market capitalization of $39.14 million, a PE ratio of 13.43 and a beta of 0.41.

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

Hedge Funds Weigh In On Massimo Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC raised its stake in shares of 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 purchasing an additional 5,844 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Massimo Group during the fourth quarter worth about $69,000. Goldman Sachs Group Inc. acquired a new stake in Massimo Group during the fourth quarter worth about $78,000. Millennium Management LLC acquired a new stake in Massimo Group during the third quarter worth about $88,000. Finally, Geode Capital Management LLC raised its stake 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.

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.