Mohawk Group (NYSE:MWK) Now Covered by Analysts at Sidoti

Equities research analysts at Sidoti assumed coverage on shares of Mohawk Group (NYSE:MWK) in a note issued to investors on Monday, The Fly reports. The brokerage set a “buy” rating and a $23.00 price target on the stock. Sidoti’s price objective would suggest a potential upside of 29.58% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Mohawk Group from a “hold” rating to a “buy” rating in a research note on Wednesday, December 23rd. Alliance Global Partners upped their price objective on Mohawk Group from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, December 17th. Oppenheimer began coverage on Mohawk Group in a report on Wednesday, December 16th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Zacks Investment Research downgraded Mohawk Group from a “buy” rating to a “hold” rating in a report on Thursday, September 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Mohawk Group presently has a consensus rating of “Buy” and a consensus target price of $15.93.

Mohawk Group stock traded up $1.06 during trading on Monday, hitting $17.75. The company had a trading volume of 33,539 shares, compared to its average volume of 151,480. Mohawk Group has a 1-year low of $1.42 and a 1-year high of $17.90. The company’s 50 day simple moving average is $9.29 and its 200-day simple moving average is $7.81.

Mohawk Group (NYSE:MWK) last released its quarterly earnings results on Monday, November 9th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.23. The firm had revenue of $58.78 million for the quarter, compared to analysts’ expectations of $55.96 million.

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in Mohawk Group during the third quarter worth about $178,000. Psagot Investment House Ltd. purchased a new position in Mohawk Group in the third quarter valued at about $1,927,000. Virtu Financial LLC acquired a new position in shares of Mohawk Group during the second quarter worth $55,000. AWM Investment Company Inc. acquired a new stake in Mohawk Group during the 3rd quarter valued at approximately $3,605,000. Finally, Kornitzer Capital Management Inc. KS bought a new stake in shares of Mohawk Group in the third quarter worth $1,072,000.

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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