Massimo Group (NASDAQ:MAMO) Releases Earnings Results

Massimo Group (NASDAQ:MAMO) issued its earnings results on Thursday. The company reported $0.03 EPS for the quarter, Zacks reports. Massimo Group had a return on equity of 12.15% and a net margin of 3.72%.

Massimo Group Stock Performance

Shares of MAMO opened at $1.04 on Friday. The company’s 50 day moving average price is $0.99 and its 200 day moving average price is $1.10. Massimo Group has a 52 week low of $0.85 and a 52 week high of $5.59. The company has a market capitalization of $43.22 million, a PE ratio of 14.83 and a beta of 0.33.

Institutional Investors Weigh In On Massimo Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC grew its holdings in shares of 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 stake in shares of Massimo Group during the fourth quarter worth $69,000. Goldman Sachs Group Inc. purchased a new stake in shares of Massimo Group during the fourth quarter worth $78,000. Millennium Management LLC acquired a new stake in Massimo Group during the third quarter valued at $88,000. Finally, Geode Capital Management LLC boosted its position in 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 purchasing an additional 45,537 shares during the last quarter.

Analyst Upgrades and Downgrades

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

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.