Mohawk Group (NYSE:MWK) Stock Rating Upgraded by Zacks Investment Research
Mohawk Group (NYSE:MWK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The firm currently has a $10.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 33.69% from the stock’s previous close.
According to Zacks, “Mohawk Group Holdings Inc. and subsidiaries is a technology-enabled consumer products company which uses machine learning, natural language processing and data analytics to design, develop, market and sell products. The company operates through online retail channels such as Amazon, eBay and Walmart. It owned and operated brand includes hOme, Vremi, Xtava and RIF6. The company sells products in home and kitchen appliances, kitchenware, environmental appliances, beauty related products and consumer electronics. Mohawk Group Holdings Inc. is based in NEW YORK. “
Several other analysts have also weighed in on MWK. Alliance Global Partners initiated coverage on shares of Mohawk Group in a research note on Monday, July 8th. They set a “buy” rating and a $15.00 target price for the company. National Securities initiated coverage on shares of Mohawk Group in a research note on Thursday, July 11th. They set a “buy” rating and a $14.00 target price for the company. Finally, Roth Capital initiated coverage on shares of Mohawk Group in a research note on Monday, July 8th. They set a “buy” rating and a $9.00 target price for the company.
Mohawk Group (NYSE:MWK) last released its earnings results on Thursday, August 1st. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.29). The business had revenue of $30.37 million for the quarter, compared to analysts’ expectations of $26.46 million.
In other Mohawk Group news, insider Yaniv Zion Sarig bought 6,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was purchased at an average price of $7.03 per share, for a total transaction of $42,180.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in Mohawk Group in the 2nd quarter valued at $43,000. Cubist Systematic Strategies LLC acquired a new position in shares of Mohawk Group during the 2nd quarter worth $63,000. Monashee Investment Management LLC acquired a new position in shares of Mohawk Group during the 2nd quarter worth $161,000. K.J. Harrison & Partners Inc acquired a new position in shares of Mohawk Group during the 2nd quarter worth $242,000. Finally, Harvey Partners LLC acquired a new position in shares of Mohawk Group during the 2nd quarter worth $1,211,000.
Mohawk Group Company Profile
Mohawk Group Holdings, Inc operates as a technology-enabled consumer products company in the United States. It offers home and kitchen appliances; kitchenware; environmental appliances, such as dehumidifiers and air conditioners; beauty related products; and consumer electronics under the hOme, Vremi, Xtava, and RIF6 brands.
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