Mawson Infrastructure Group (NASDAQ:MIGI) Trading Down 1.1% – Should You Sell?

Mawson Infrastructure Group Inc. (NASDAQ:MIGI)’s stock price was down 1.1% during trading on Monday . The stock traded as low as $2.59 and last traded at $2.75. Approximately 103,613 shares changed hands during trading, an increase of 113% from the average daily volume of 48,552 shares. The stock had previously closed at $2.78.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Mawson Infrastructure Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mawson Infrastructure Group in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Mawson Infrastructure Group Trading Down 1.1%

The firm has a market capitalization of $3.14 million, a P/E ratio of -0.22 and a beta of 4.09. The stock has a 50-day simple moving average of $3.76 and a two-hundred day simple moving average of $9.05.

Insider Activity at Mawson Infrastructure Group

In other news, major shareholder Endeavor Blockchain, Llc acquired 160,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was purchased at an average cost of $4.56 per share, for a total transaction of $729,600.00. Following the completion of the acquisition, the insider directly owned 1,260,000 shares of the company’s stock, valued at $5,745,600. The trade was a 14.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 831,368 shares of company stock worth $4,515,456 in the last 90 days. Company insiders own 2.00% of the company’s stock.

About Mawson Infrastructure Group

Mawson Infrastructure Group, Inc is a special purpose acquisition company formed to identify, acquire and operate businesses in the digital infrastructure sector. Incorporated in Delaware, the company focuses on high-growth areas such as data centers, fiber-optic networks, wireless towers and other critical infrastructure that supports the global digital economy.

The company completed its initial public offering in July 2021, raising capital to pursue its business combination objectives.