Short Interest in Massimo Group (NASDAQ:MAMO) Drops By 53.0%

Massimo Group (NASDAQ:MAMO) saw a significant decline in short interest in March. As of March 13th, there was short interest totaling 206,498 shares, a decline of 53.0% from the February 26th total of 439,378 shares. Based on an average daily volume of 164,059 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.5% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Massimo Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Massimo Group presently has an average rating of “Sell”.

Massimo Group Stock Performance

Shares of MAMO stock traded up $0.06 on Friday, hitting $1.00. 260,563 shares of the company’s stock traded hands, compared to its average volume of 144,350. The stock has a market capitalization of $41.64 million, a price-to-earnings ratio of -49.98 and a beta of 0.52. The company’s fifty day simple moving average is $1.53 and its 200 day simple moving average is $2.81. Massimo Group has a one year low of $0.85 and a one year high of $5.59.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MAMO. Citadel Advisors LLC increased 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 worth $45,000 after buying an additional 5,844 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Massimo Group during the fourth quarter valued at approximately $69,000. Goldman Sachs Group Inc. bought a new position in Massimo Group during the fourth quarter valued at approximately $78,000. Millennium Management LLC bought a new position in Massimo Group during the third quarter valued at approximately $88,000. Finally, Geode Capital Management LLC boosted its holdings in Massimo Group by 152.0% in the fourth quarter. Geode Capital Management LLC now owns 75,494 shares of the company’s stock worth $300,000 after purchasing an additional 45,537 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.