Zacks Investment Research upgraded shares of Mohawk Group (NYSE:MWK) from a hold rating to a buy rating in a research note released on Tuesday, Zacks.com reports. The brokerage currently has $10.00 price target on the stock.
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. “
Other analysts have also recently issued reports about the company. National Securities began coverage on Mohawk Group in a research note on Thursday, July 11th. They issued a buy rating and a $14.00 price target for the company. Roth Capital began coverage on Mohawk Group in a research note on Monday, July 8th. They set a buy rating and a $9.00 target price for the company. Finally, Alliance Global Partners began coverage on Mohawk Group in a research note on Monday, July 8th. They set a buy rating and a $15.00 target price for the company.
Mohawk Group (NYSE:MWK) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.29). The firm had revenue of $30.37 million during the quarter, compared to the consensus estimate of $26.46 million.
In other Mohawk Group news, insider Yaniv Zion Sarig bought 6,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $7.03 per share, with a total value of $42,180.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in Mohawk Group during the 2nd quarter worth approximately $43,000. Cubist Systematic Strategies LLC acquired a new position in Mohawk Group during the 2nd quarter worth approximately $63,000. Monashee Investment Management LLC acquired a new position in Mohawk Group during the 2nd quarter worth approximately $161,000. K.J. Harrison & Partners Inc acquired a new position in Mohawk Group during the 2nd quarter worth approximately $242,000. Finally, Harvey Partners LLC acquired a new position in Mohawk Group during the 2nd quarter worth approximately $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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