Mohawk Group (NYSE:MWK) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Mohawk Group (NYSE:MWK) from a hold rating to a sell rating in a research note published on Saturday, 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 opened at $6.49 on Friday. Mohawk Group has a 1 year low of $5.70 and a 1 year high of $10.74. The firm has a 50-day moving average of $6.86.

In related news, insider Yaniv Zion Sarig acquired 6,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of $7.03 per share, with a total value of $42,180.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

A number of institutional investors have recently added to or reduced their stakes in the business. K.J. Harrison & Partners Inc boosted 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 valued at $261,000 after buying an additional 3,322 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Mohawk Group in the 3rd quarter valued at about $33,000. Point72 Hong Kong Ltd purchased a new stake in Mohawk Group in the 2nd quarter valued at about $43,000. Cubist Systematic Strategies LLC purchased a new stake in Mohawk Group in the 2nd quarter valued at about $63,000. Finally, Monashee Investment Management LLC purchased a new stake in Mohawk Group in the 2nd quarter valued at about $161,000.

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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