Massimo Group (NASDAQ:MAMO) Short Interest Up 95.8% in June

Massimo Group (NASDAQ:MAMO) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 330,026 shares, an increase of 95.8% from the June 15th total of 168,511 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average daily volume of 1,367,769 shares, the short-interest ratio is currently 0.2 days.

Massimo Group Stock Performance

Massimo Group stock traded down $0.01 on Thursday, reaching $0.98. The company’s stock had a trading volume of 38,104 shares, compared to its average volume of 999,924. The business’s fifty day moving average price is $0.98 and its 200 day moving average price is $1.51. The company has a market cap of $40.72 million, a price-to-earnings ratio of 13.97 and a beta of 0.38. Massimo Group has a twelve month low of $0.85 and a twelve month high of $5.59.

Massimo Group (NASDAQ:MAMO) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.02) earnings per share (EPS) for the quarter. The business 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%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MAMO shares. Wall Street Zen upgraded shares of Massimo Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Massimo Group in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings 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 acquiring an additional 45,537 shares during the period. Millennium Management LLC bought a new stake in shares of Massimo Group during the 3rd quarter valued at $88,000. Goldman Sachs Group Inc. acquired a new position in shares of Massimo Group in the 4th quarter valued at $78,000. OMERS ADMINISTRATION Corp bought a new position in shares of Massimo Group in the 4th quarter worth $69,000. Finally, Citadel Advisors LLC boosted its position in shares of Massimo Group by 43.7% in 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 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.