Short Interest in Mohawk Group Holdings, Inc. (NASDAQ:MWK) Grows By 285.1%
Mohawk Group Holdings, Inc. (NASDAQ:MWK) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 409,000 shares, an increase of 285.1% from the December 15th total of 106,200 shares. Currently, 4.9% of the shares of the company are sold short. Based on an average daily volume of 260,300 shares, the short-interest ratio is presently 1.6 days.
Several equities analysts have weighed in on MWK shares. BidaskClub raised Mohawk Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 9th. ValuEngine lowered Mohawk Group from a “buy” rating to a “hold” rating in a report on Saturday, December 5th. Oppenheimer began coverage on Mohawk Group in a report on Wednesday, December 16th. They set an “outperform” rating and a $20.00 price objective for the company. Alliance Global Partners raised their price target on Mohawk Group from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, December 17th. Finally, Sidoti began coverage on Mohawk Group in a report on Monday, December 28th. They issued a “buy” rating and a $23.00 price target for the company. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.93.
Shares of MWK stock opened at $20.33 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.14 and a current ratio of 1.54. Mohawk Group has a 52-week low of $1.42 and a 52-week high of $22.45. The company has a market capitalization of $444.11 million, a PE ratio of -8.88 and a beta of 4.35. The business’s fifty day moving average is $16.26 and its 200 day moving average is $10.37.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MWK. Acadian Asset Management LLC purchased a new stake in Mohawk Group during the 3rd quarter valued at $178,000. Morgan Stanley purchased a new stake in Mohawk Group during the 3rd quarter valued at $215,000. Mesirow Financial Investment Management Inc. purchased a new stake in Mohawk Group during the 3rd quarter valued at $350,000. Arkadios Wealth Advisors bought a new stake in shares of Mohawk Group during the 3rd quarter valued at $358,000. Finally, Kornitzer Capital Management Inc. KS bought a new stake in shares of Mohawk Group during the 3rd quarter valued at $1,072,000. Institutional investors and hedge funds own 13.25% of the company’s stock.
About Mohawk Group
Mohawk Group Holdings, Inc, together with its subsidiaries, operates as a technology-enabled consumer products company in the United States and internationally. The company provides home and kitchen appliances; kitchenware; environmental appliances, such as dehumidifiers and air conditioners; beauty related products; and consumer electronics under the hOmeLabs, Vremi, Xtava, and RIF6 brands.
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