Mohawk Group (NYSE:MWK) Lowered to Sell at Zacks Investment Research

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

Shares of NYSE MWK traded down $0.13 during midday trading on Friday, hitting $6.42. 13,764 shares of the company’s stock were exchanged, compared to its average volume of 38,209. Mohawk Group has a twelve month low of $5.70 and a twelve month high of $10.74. The firm has a fifty day simple moving average of $6.89.

In other Mohawk Group news, insider Yaniv Zion Sarig bought 6,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average price of $7.03 per share, with a total value of $42,180.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new position in Mohawk Group during the third quarter worth approximately $33,000. K.J. Harrison & Partners Inc increased its position in Mohawk Group by 11.1% during the third 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. Harvey Partners LLC acquired a new position in Mohawk Group during the second quarter worth approximately $1,211,000. Intrinsic Edge Capital Management LLC acquired a new position in Mohawk Group during the second quarter worth approximately $2,825,000. Finally, Point72 Hong Kong Ltd acquired a new position in Mohawk Group during the second quarter worth approximately $43,000.

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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