Mohawk Group Holdings, Inc. (NASDAQ:MWK) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 6,161 call options on the stock. This is an increase of approximately 340% compared to the typical daily volume of 1,400 call options.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Mohawk Group by 8.8% during the fourth quarter. BlackRock Inc. now owns 28,671 shares of the company’s stock worth $493,000 after acquiring an additional 2,318 shares in the last quarter. Proequities Inc. raised its position in Mohawk Group by 677.8% during the fourth quarter. Proequities Inc. now owns 3,928 shares of the company’s stock worth $68,000 after acquiring an additional 3,423 shares in the last quarter. Wells Fargo & Company MN raised its position in Mohawk Group by 18,412.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,590 shares of the company’s stock worth $131,000 after acquiring an additional 7,549 shares in the last quarter. Barclays PLC bought a new position in shares of Mohawk Group in the fourth quarter valued at about $146,000. Finally, Citigroup Inc. bought a new position in shares of Mohawk Group in the fourth quarter valued at about $168,000. 17.91% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on MWK shares. Alliance Global Partners reiterated a “buy” rating and issued a $34.00 price target (up previously from $20.00) on shares of Mohawk Group in a report on Tuesday, February 2nd. They noted that the move was a valuation call. Roth Capital upped their price target on shares of Mohawk Group from $16.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 3rd. Sidoti cut shares of Mohawk Group from a “buy” rating to a “neutral” rating in a report on Thursday, February 18th. Finally, Oppenheimer upped their price target on shares of Mohawk Group from $30.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, February 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Mohawk Group presently has an average rating of “Buy” and an average price target of $26.36.
Mohawk Group Company Profile
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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