Massimo Group (NASDAQ:MAMO) Issues Quarterly Earnings Results

Massimo Group (NASDAQ:MAMO) released its quarterly earnings results on Tuesday. The company reported $0.05 EPS for the quarter, FiscalAI reports. Massimo Group had a negative net margin of 1.17% and a negative return on equity of 3.96%. The company had revenue of $21.02 million for the quarter.

Massimo Group Stock Performance

Shares of MAMO stock opened at $1.02 on Thursday. Massimo Group has a fifty-two week low of $0.85 and a fifty-two week high of $5.59. The stock’s fifty day moving average is $1.38 and its two-hundred day moving average is $2.77. The firm has a market capitalization of $42.47 million, a P/E ratio of 25.50 and a beta of 0.52.

Institutional Investors Weigh In On Massimo Group

A number of hedge funds have recently modified their holdings of the business. Citadel Advisors LLC boosted its position in Massimo Group by 43.7% during the third quarter. Citadel Advisors LLC now owns 19,218 shares of the company’s stock worth $45,000 after acquiring an additional 5,844 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Massimo Group in the 4th quarter valued at about $69,000. Goldman Sachs Group Inc. acquired a new stake in Massimo Group in the 4th quarter valued at about $78,000. Millennium Management LLC purchased a new position in Massimo Group in the 3rd quarter worth approximately $88,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Massimo Group by 152.0% during the 4th 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.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Massimo Group from a “hold” rating to a “buy” rating in a research report on Sunday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Massimo Group 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.