Short Interest in Mohawk Group Holdings, Inc. (NASDAQ:MWK) Grows By 285.1%

Mohawk Group Holdings, Inc. (NASDAQ:MWK) was the recipient of a significant increase in short interest during 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. Based on an average trading volume of 260,300 shares, the short-interest ratio is presently 1.6 days. Approximately 4.9% of the company’s shares are sold short.

Institutional investors have recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. purchased a new stake in Mohawk Group during the third quarter valued at about $350,000. Psagot Investment House Ltd. bought a new stake in Mohawk Group during the 3rd quarter worth $1,927,000. Kornitzer Capital Management Inc. KS bought a new stake in Mohawk Group during the 3rd quarter worth $1,072,000. National Asset Management Inc. grew its position in Mohawk Group by 45.8% during the 3rd quarter. National Asset Management Inc. now owns 194,200 shares of the company’s stock worth $1,603,000 after acquiring an additional 61,025 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Mohawk Group during the 3rd quarter worth $178,000. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the stock. Alliance Global Partners boosted their price target on shares of Mohawk Group from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, December 17th. Sidoti initiated coverage on shares of Mohawk Group in a research report on Monday, December 28th. They issued a “buy” rating and a $23.00 price target on the stock. BidaskClub upgraded shares of Mohawk Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 9th. ValuEngine cut shares of Mohawk Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 5th. Finally, Oppenheimer assumed coverage on shares of Mohawk Group in a research note on Wednesday, December 16th. They issued an “outperform” rating and a $20.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $15.93.

Shares of MWK stock opened at $20.33 on Thursday. The firm has a 50-day moving average price of $16.26 and a 200 day moving average price of $10.37. Mohawk Group has a twelve month low of $1.42 and a twelve month high of $22.45. The company has a market capitalization of $444.11 million, a price-to-earnings ratio of -8.88 and a beta of 4.35. The company has a current ratio of 1.54, a quick ratio of 1.14 and a debt-to-equity ratio of 0.19.

Mohawk Group (NASDAQ:MWK) last announced its earnings results on Monday, November 9th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.27. The firm had revenue of $58.78 million during the quarter, compared to the consensus estimate of $55.96 million. Mohawk Group had a negative net margin of 20.49% and a negative return on equity of 265.80%. As a group, research analysts predict that Mohawk Group will post -2.09 earnings per share for the current year.

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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