Mohawk Group Holdings’ Lock-Up Period To End on December 9th (NYSE:MWK)

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Mohawk Group’s (NYSE:MWK) lock-up period will end on Monday, December 9th. Mohawk Group had issued 3,600,000 shares in its public offering on June 12th. The total size of the offering was $36,000,000 based on an initial share price of $10.00. After the end of Mohawk Group’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Separately, Zacks Investment Research upgraded Mohawk Group from a “sell” rating to a “hold” rating in a research note on Tuesday.

NYSE:MWK opened at $5.58 on Wednesday. The firm has a fifty day moving average price of $6.23. Mohawk Group has a 1-year low of $5.12 and a 1-year high of $10.74.

Mohawk Group (NYSE:MWK) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.75) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.13). The business had revenue of $40.60 million for the quarter, compared to the consensus estimate of $38.80 million.

Several institutional investors have recently modified their holdings of MWK. AWM Investment Company Inc. purchased a new position in Mohawk Group during the second quarter worth about $4,557,000. Intrinsic Edge Capital Management LLC acquired a new position in Mohawk Group during the 2nd quarter worth approximately $2,825,000. Harvey Partners LLC acquired a new position in Mohawk Group during the 2nd quarter worth approximately $1,211,000. K.J. Harrison & Partners Inc acquired a new position in Mohawk Group during the 2nd quarter worth approximately $242,000. Finally, Monashee Investment Management LLC purchased a new position in shares of Mohawk Group during the 2nd quarter worth approximately $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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