Mohawk Group (NYSE:MWK) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Mohawk Group (NYSE:MWK) from a sell rating to a hold rating in a research report sent to investors 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. “

Mohawk Group stock traded up $0.07 on Tuesday, reaching $5.50. 56,765 shares of the stock were exchanged, compared to its average volume of 34,763. Mohawk Group has a twelve month low of $5.12 and a twelve month high of $10.74. The company’s fifty day moving average is $6.17.

Mohawk Group (NYSE:MWK) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 large investors have recently made changes to their positions in MWK. AWM Investment Company Inc. acquired a new stake in Mohawk Group in the 2nd quarter valued at approximately $4,557,000. K.J. Harrison & Partners Inc increased its position in Mohawk Group by 11.1% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 33,322 shares of the company’s stock worth $261,000 after buying an additional 3,322 shares during the period. Tower Research Capital LLC TRC bought a new position in Mohawk Group in the 3rd quarter worth approximately $33,000. Cubist Systematic Strategies LLC acquired a new position in shares of Mohawk Group during the second quarter worth approximately $63,000. Finally, Intrinsic Edge Capital Management LLC acquired a new position in shares of Mohawk Group during the second quarter worth approximately $2,825,000.

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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