Mohawk Group (NYSE:MWK) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Mohawk Group (NYSE:MWK) from a hold rating to a buy rating in a report released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $10.00 target price 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. “

Several other research analysts have also recently weighed in on the company. National Securities initiated coverage on Mohawk Group in a research report on Thursday, July 11th. They set a buy rating and a $14.00 price objective on the stock. Alliance Global Partners initiated coverage on Mohawk Group in a research report on Monday, July 8th. They set a buy rating and a $15.00 price objective on the stock. Finally, Roth Capital initiated coverage on Mohawk Group in a research report on Monday, July 8th. They set a buy rating and a $9.00 price objective on the stock.

MWK stock traded up $0.20 during trading hours on Tuesday, hitting $7.69. 401 shares of the stock were exchanged, compared to its average volume of 47,822. The firm has a 50-day moving average price of $7.60. Mohawk Group has a 12 month low of $5.80 and a 12 month high of $10.74.

Mohawk Group (NYSE:MWK) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $26.46 million.

In related news, insider Yaniv Zion Sarig purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average price of $7.03 per share, for a total transaction of $42,180.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Several hedge funds and other institutional investors have recently modified their holdings of MWK. K.J. Harrison & Partners Inc bought a new position in shares of Mohawk Group in the second quarter worth $242,000. Monashee Investment Management LLC bought a new position in shares of Mohawk Group in the second quarter worth $161,000. AWM Investment Company Inc. bought a new position in shares of Mohawk Group in the second quarter worth $4,557,000. Cubist Systematic Strategies LLC bought a new position in shares of Mohawk Group in the second quarter worth $63,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Mohawk Group in the second quarter worth $43,000.

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.

Featured Article: Asset Allocation and Your Retirement

Get a free copy of the Zacks research report on Mohawk Group (MWK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Mohawk Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Group and related companies with MarketBeat.com's FREE daily email newsletter.