Massimo Group (NASDAQ:MAMO) Stock Price Down 1.8% – Here’s What Happened

Massimo Group (NASDAQ:MAMO)’s stock price fell 1.8% during trading on Thursday . The stock traded as low as $1.05 and last traded at $1.07. Approximately 31,690 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 69,814 shares. The stock had previously closed at $1.09.

Analyst Upgrades and Downgrades

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

Massimo Group Trading Down 1.8%

The company has a market cap of $44.55 million, a price-to-earnings ratio of 15.29 and a beta of 0.33. The firm’s fifty day simple moving average is $0.98 and its 200 day simple moving average is $1.19.

Massimo Group (NASDAQ:MAMO) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $12.71 million during the quarter. Massimo Group had a net margin of 3.72% and a return on equity of 12.15%.

Institutional Trading of Massimo Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position 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 acquiring an additional 45,537 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Massimo Group during the 3rd quarter worth about $88,000. Goldman Sachs Group Inc. purchased a new stake in Massimo Group during the fourth quarter worth approximately $78,000. OMERS ADMINISTRATION Corp purchased a new stake in Massimo Group during the fourth quarter worth approximately $69,000. Finally, Citadel Advisors LLC boosted its holdings in Massimo Group by 43.7% in the third quarter. Citadel Advisors LLC now owns 19,218 shares of the company’s stock valued at $45,000 after purchasing an additional 5,844 shares in 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.