Mawson Infrastructure Group (NASDAQ:MIGI) Downgraded by Zacks Investment Research

Mawson Infrastructure Group (NASDAQ:MIGIGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Mawson Infrastructure Group Inc. is a digital infrastructure provider, with diversified operations across Cryptocurrency Mining and Digital Asset Management. It operates principally in the USA and Australia. Mawson Infrastructure Group Inc., formerly known as Wize Pharma Inc., is based in SYDNEY. “

Separately, Cantor Fitzgerald began coverage on Mawson Infrastructure Group in a report on Wednesday, March 30th. They issued an “overweight” rating and a $12.00 price target for the company.

NASDAQ MIGI opened at $2.45 on Tuesday. The stock has a market cap of $177.59 million, a PE ratio of 14.38 and a beta of 2.19. Mawson Infrastructure Group has a fifty-two week low of $2.00 and a fifty-two week high of $17.25. The business has a 50 day moving average price of $4.05 and a two-hundred day moving average price of $5.66. The company has a quick ratio of 0.57, a current ratio of 0.41 and a debt-to-equity ratio of 0.26.

Several institutional investors have recently added to or reduced their stakes in MIGI. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Mawson Infrastructure Group during the 4th quarter valued at approximately $51,000. Millennium Management LLC bought a new position in Mawson Infrastructure Group during the third quarter worth $103,000. Geode Capital Management LLC bought a new position in Mawson Infrastructure Group during the fourth quarter worth $191,000. Riverwater Partners LLC bought a new position in Mawson Infrastructure Group during the first quarter worth $205,000. Finally, Penserra Capital Management LLC lifted its stake in Mawson Infrastructure Group by 25.2% during the first quarter. Penserra Capital Management LLC now owns 49,675 shares of the company’s stock worth $253,000 after purchasing an additional 10,012 shares during the last quarter. Institutional investors own 3.24% of the company’s stock.

About Mawson Infrastructure Group (Get Rating)

Mawson Infrastructure Group Inc, a digital infrastructure provider, operates in cryptocurrency mining in the United States and Australia. It owns and operates modular data centers. The company is based in North Sydney, Australia.

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