Mohawk Group (NYSE:MWK) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Mohawk Group (NYSE:MWK) from a sell rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

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. “

Shares of NYSE MWK traded up $0.07 during mid-day trading on Tuesday, reaching $5.50. The company had a trading volume of 56,765 shares, compared to its average volume of 34,763. The business has a 50-day moving average price of $6.17. Mohawk Group has a 1-year low of $5.12 and a 1-year high of $10.74.

Mohawk Group (NYSE:MWK) last announced its earnings results on Tuesday, November 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.13). The firm had revenue of $40.60 million during the quarter, compared to the consensus estimate of $38.80 million.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. AWM Investment Company Inc. acquired a new stake in shares of Mohawk Group during the second quarter valued at approximately $4,557,000. K.J. Harrison & Partners Inc grew its position in Mohawk Group by 11.1% during the 3rd quarter. K.J. Harrison & Partners Inc now owns 33,322 shares of the company’s stock worth $261,000 after purchasing an additional 3,322 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Mohawk Group during the 3rd quarter worth approximately $33,000. Cubist Systematic Strategies LLC acquired a new stake in Mohawk Group during the 2nd quarter valued at $63,000. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in Mohawk Group during the 2nd quarter valued at $2,825,000.

About Mohawk Group

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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