Massimo Group (NASDAQ:MAMO) Short Interest Down 44.6% in July

Massimo Group (NASDAQ:MAMO) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 159,999 shares, a drop of 44.6% from the July 15th total of 288,758 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average trading volume of 77,609 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Investors Weigh In On Massimo Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new stake in shares of Massimo Group in the 2nd quarter valued at approximately $241,000. BlackRock Inc. acquired a new position in Massimo Group during the second quarter worth $30,000. OMERS ADMINISTRATION Corp bought a new stake in Massimo Group during the fourth quarter worth $69,000. Goldman Sachs Group Inc. acquired a new stake in Massimo Group in the fourth quarter valued at $78,000. Finally, Geode Capital Management LLC lifted its stake in Massimo Group by 152.0% in 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 last quarter.

Massimo Group Trading Up 1.4%

Shares of NASDAQ MAMO traded up $0.01 during mid-day trading on Monday, hitting $1.07. The company had a trading volume of 47,607 shares, compared to its average volume of 867,117. The company has a market capitalization of $44.76 million, a PE ratio of 10.75 and a beta of 0.33. The firm has a 50-day simple moving average of $0.99 and a two-hundred day simple moving average of $1.09. Massimo Group has a one year low of $0.85 and a one year high of $5.59.

Massimo Group (NASDAQ:MAMO) last released its earnings results on Thursday, August 13th. The company reported $0.03 earnings per share (EPS) for the quarter. Massimo Group had a return on equity of 17.60% and a net margin of 6.04%.The business had revenue of $14.92 million for the quarter.

Analysts Set New Price Targets

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

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.