Massimo Group (NASDAQ:MAMO) Rating Lowered to Hold at Wall Street Zen

Massimo Group (NASDAQ:MAMO) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Massimo Group Trading Down 1.6%

NASDAQ:MAMO opened at $0.94 on Friday. The firm has a market cap of $39.03 million, a P/E ratio of -46.84 and a beta of 0.56. The stock’s 50 day simple moving average is $1.82 and its 200-day simple moving average is $2.86. Massimo Group has a 12-month low of $0.85 and a 12-month high of $5.59.

Hedge Funds Weigh In On Massimo Group

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in 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 buying an additional 45,537 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Massimo Group in the 3rd quarter worth $88,000. Goldman Sachs Group Inc. purchased a new stake in shares of Massimo Group in the fourth quarter valued at about $78,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Massimo Group in the fourth quarter valued at about $69,000. Finally, Citadel Advisors LLC increased its stake in shares of 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 period.

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.