Mohawk Group (NASDAQ:MWK) Sees Large Volume Increase
Mohawk Group Holdings, Inc. (NASDAQ:MWK) saw an uptick in trading volume on Tuesday . 89,184 shares traded hands during trading, a decline of 92% from the previous session’s volume of 1,061,935 shares.The stock last traded at $30.45 and had previously closed at $30.03.
A number of brokerages have recently weighed in on MWK. BTIG Research began coverage on Mohawk Group in a research note on Monday. They set a “buy” rating and a $45.00 price target on the stock. Alliance Global Partners boosted their price target on Mohawk Group from $34.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, March 9th. Sidoti upgraded Mohawk Group from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Thursday, March 11th. Oppenheimer restated a “buy” rating and set a $50.00 price target on shares of Mohawk Group in a research note on Tuesday, March 9th. Finally, Zacks Investment Research lowered Mohawk Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 13th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $35.56.
The stock has a 50-day moving average of $35.97 and a 200 day moving average of $20.78. The stock has a market cap of $850.73 million, a PE ratio of -12.60 and a beta of 4.78. The company has a quick ratio of 1.14, a current ratio of 1.54 and a debt-to-equity ratio of 0.19.
In related news, major shareholder 9830 Macarthur Llc purchased 38,806 shares of the firm’s stock in a transaction on Wednesday, January 13th. The stock was bought at an average cost of $20.57 per share, with a total value of $798,239.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph A. Risico sold 38,756 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $29.83, for a total value of $1,156,091.48. Following the completion of the transaction, the insider now directly owns 290,409 shares of the company’s stock, valued at $8,662,900.47. The disclosure for this sale can be found here. Over the last three months, insiders acquired 333,166 shares of company stock valued at $7,756,181 and sold 199,613 shares valued at $6,648,975. Insiders own 14.30% of the company’s stock.
Large investors have recently made changes to their positions in the business. Avory & Company LLC acquired a new position in shares of Mohawk Group during the 4th quarter worth approximately $12,675,000. CM Management LLC acquired a new position in shares of Mohawk Group during the 4th quarter worth approximately $4,905,000. Platform Technology Partners acquired a new position in shares of Mohawk Group during the 3rd quarter worth approximately $1,085,000. Anchor Capital Advisors LLC acquired a new position in shares of Mohawk Group during the 4th quarter worth approximately $2,184,000. Finally, Renaissance Technologies LLC raised its stake in shares of Mohawk Group by 25.0% during the 4th quarter. Renaissance Technologies LLC now owns 412,277 shares of the company’s stock worth $7,095,000 after buying an additional 82,404 shares during the period. 17.91% of the stock is owned by institutional investors.
Mohawk Group Company Profile (NASDAQ:MWK)
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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