Massimo Group (NASDAQ:MAMO) Shares Down 1.8% – Here’s Why

Massimo Group (NASDAQ:MAMO)’s share price was down 1.8% during mid-day trading on Thursday . The company traded as low as $1.05 and last traded at $1.07. Approximately 31,690 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 69,814 shares. The stock had previously closed at $1.09.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Massimo Group in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Massimo Group Price Performance

The stock has a market capitalization of $44.14 million, a PE ratio of 15.14 and a beta of 0.33. The company has a 50 day moving average price of $0.98 and a 200-day moving average price of $1.19.

Massimo Group (NASDAQ:MAMO) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.02) EPS for the quarter. The business had revenue of $12.71 million during the quarter. Massimo Group had a return on equity of 12.15% and a net margin of 3.72%.

Institutional Investors Weigh In On Massimo Group

A number of large investors have recently modified their holdings of MAMO. BlackRock Inc. bought a new position in Massimo Group in the second quarter worth about $30,000. Citadel Advisors LLC boosted 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 valued at $45,000 after acquiring an additional 5,844 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Massimo Group during the 4th quarter worth approximately $69,000. Goldman Sachs Group Inc. bought a new position in shares of Massimo Group in the 4th quarter worth approximately $78,000. Finally, Millennium Management LLC purchased a new position in shares of Massimo Group in the 3rd quarter valued at approximately $88,000.

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.