Mohawk Group (NYSE:MWK) PT Raised to $14.00

Mohawk Group (NYSE:MWK) had its target price lifted by Alliance Global Partners from $11.00 to $14.00 in a report released on Friday, The Fly reports. The firm currently has a “buy” rating on the stock. Alliance Global Partners’ price objective points to a potential upside of 79.49% from the company’s current price.

MWK has been the topic of several other reports. Zacks Investment Research raised shares of Mohawk Group from a “hold” rating to a “strong-buy” rating and set a $4.50 price objective on the stock in a research report on Saturday, May 16th. Roth Capital reissued a “buy” rating and issued a $8.00 price objective on shares of Mohawk Group in a research report on Friday, June 12th.

NYSE MWK traded down $0.59 on Friday, hitting $7.80. 309,808 shares of the stock were exchanged, compared to its average volume of 82,921. The business’s fifty day moving average is $5.88 and its 200 day moving average is $4.32. Mohawk Group has a 52 week low of $1.42 and a 52 week high of $9.45.

Mohawk Group (NYSE:MWK) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.50) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.08. The company had revenue of $25.63 million during the quarter, compared to the consensus estimate of $25.50 million.

In other Mohawk Group news, CRO Bari A. Harlam purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average cost of $5.47 per share, for a total transaction of $27,350.00. Following the completion of the purchase, the executive now owns 33,325 shares of the company’s stock, valued at approximately $182,287.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Greg Petersen purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $5.31 per share, for a total transaction of $53,100.00. Following the completion of the purchase, the director now directly owns 33,325 shares of the company’s stock, valued at approximately $176,955.75. The disclosure for this purchase can be found here. Insiders purchased 17,000 shares of company stock worth $90,450 over the last 90 days.

Hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Mohawk Group in the first quarter valued at about $26,000. JPMorgan Chase & Co. acquired a new stake in Mohawk Group during the first quarter worth about $250,000. Lido Advisors LLC grew its stake in Mohawk Group by 98.7% during the first quarter. Lido Advisors LLC now owns 103,622 shares of the company’s stock worth $175,000 after buying an additional 51,469 shares in the last quarter. Finally, National Asset Management Inc. acquired a new stake in Mohawk Group during the second quarter worth about $732,000.

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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