Massimo Group (NASDAQ:MAMO) Short Interest Down 44.6% in July

Massimo Group (NASDAQ:MAMO) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 159,999 shares, a decline of 44.6% from the July 15th total of 288,758 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily volume of 77,609 shares, the days-to-cover ratio is presently 2.1 days.

Massimo Group Price Performance

MAMO traded up $0.01 during mid-day trading on Monday, hitting $1.07. The stock had a trading volume of 47,607 shares, compared to its average volume of 867,117. The stock’s fifty day simple moving average is $0.99 and its 200-day simple moving average is $1.09. The firm has a market capitalization of $44.76 million, a price-to-earnings ratio of 10.75 and a beta of 0.33. Massimo Group has a 1-year low of $0.85 and a 1-year high of $5.59.

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

Hedge Funds Weigh In On Massimo Group

Institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Massimo Group during the 2nd quarter worth approximately $30,000. Citadel Advisors LLC lifted its holdings in shares of 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. OMERS ADMINISTRATION Corp bought a new stake in shares of Massimo Group in the fourth quarter valued at about $69,000. Goldman Sachs Group Inc. acquired a new position in shares of Massimo Group during the fourth quarter worth about $78,000. Finally, Millennium Management LLC acquired a new position in shares of Massimo Group during the third quarter worth about $88,000.

Wall Street Analysts Forecast Growth

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