Massimo Group (NASDAQ:MAMO) Downgraded to Hold Rating by Wall Street Zen

Massimo Group (NASDAQ:MAMO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Massimo Group Price Performance

Shares of MAMO opened at $0.94 on Friday. The company’s 50-day moving average is $1.82 and its 200-day moving average is $2.86. The firm has a market capitalization of $39.03 million, a PE ratio of -46.84 and a beta of 0.52. Massimo Group has a fifty-two week low of $0.85 and a fifty-two week high of $5.59.

Institutional Investors Weigh In On Massimo Group

A number of hedge funds and other institutional investors have recently modified their holdings of MAMO. Citadel Advisors LLC grew its stake 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 acquiring an additional 5,844 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Massimo Group in the 4th quarter worth about $69,000. Goldman Sachs Group Inc. acquired a new stake in Massimo Group in the 4th quarter worth about $78,000. Millennium Management LLC bought a new stake in Massimo Group in the 3rd quarter valued at about $88,000. Finally, Geode Capital Management LLC boosted its holdings in Massimo Group by 152.0% in the 4th quarter. Geode Capital Management LLC now owns 75,494 shares of the company’s stock valued at $300,000 after purchasing an additional 45,537 shares during the period.

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.