Short Interest in Massimo Group (NASDAQ:MAMO) Drops By 25.5%

Massimo Group (NASDAQ:MAMO) saw a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 106,478 shares, a decline of 25.5% from the January 15th total of 142,995 shares. Based on an average daily volume of 41,766 shares, the short-interest ratio is presently 2.5 days. Currently, 0.3% of the company’s shares are sold short. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 41,766 shares, the short-interest ratio is presently 2.5 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MAMO. Citadel Advisors LLC lifted its stake in shares of Massimo Group by 43.7% during the 3rd quarter. Citadel Advisors LLC now owns 19,218 shares of the company’s stock worth $45,000 after purchasing an additional 5,844 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Massimo Group in the fourth quarter valued at $78,000. Millennium Management LLC purchased a new stake in Massimo Group in the 3rd quarter valued at about $88,000. Finally, Geode Capital Management LLC increased its stake 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 valued at $300,000 after acquiring an additional 45,537 shares during the last quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Massimo Group to a “buy” rating in a research note on Saturday, January 10th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Massimo Group Stock Down 4.5%

Shares of MAMO stock traded down $0.05 during mid-day trading on Friday, hitting $0.95. The stock had a trading volume of 224,146 shares, compared to its average volume of 2,105,822. The company’s 50-day simple moving average is $3.39 and its 200-day simple moving average is $3.19. Massimo Group has a fifty-two week low of $0.87 and a fifty-two week high of $5.59.

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.