Short Interest in Massimo Group (NASDAQ:MAMO) Decreases By 55.2%

Massimo Group (NASDAQ:MAMO) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 67,533 shares, a decline of 55.2% from the August 15th total of 150,878 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 52,653 shares, the days-to-cover ratio is presently 1.3 days.

Massimo Group Price Performance

Shares of MAMO traded up $0.01 during midday trading on Monday, reaching $0.99. The stock had a trading volume of 2,960 shares, compared to its average volume of 776,742. The company has a market cap of $41.43 million, a price-to-earnings ratio of 9.95 and a beta of 0.33. The company’s fifty day simple moving average is $1.00 and its two-hundred day simple moving average is $1.00. Massimo Group has a 1-year low of $0.85 and a 1-year high of $5.59.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Massimo Group in the 2nd quarter valued at about $30,000. Bank of America Corp DE purchased a new stake in Massimo Group during the second quarter worth approximately $241,000. Geode Capital Management LLC lifted 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 purchasing an additional 45,537 shares during the last quarter. Millennium Management LLC acquired a new position in Massimo Group in the third quarter valued at approximately $88,000. Finally, Goldman Sachs Group Inc. acquired a new position in Massimo Group in the fourth quarter valued at approximately $78,000.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Massimo Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus 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.