Mawson Infrastructure Group (NASDAQ:MIGI) Rating Lowered to “Sell” at Wall Street Zen

Mawson Infrastructure Group (NASDAQ:MIGI) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Separately, 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 company’s stock. According to MarketBeat.com, Mawson Infrastructure Group has a consensus rating of “Reduce”.

Mawson Infrastructure Group Price Performance

Shares of Mawson Infrastructure Group stock opened at $1.71 on Friday. Mawson Infrastructure Group has a 52 week low of $1.70 and a 52 week high of $40.00. The business’s fifty day simple moving average is $2.94 and its 200-day simple moving average is $8.32. The firm has a market cap of $1.94 million, a PE ratio of -0.14 and a beta of 4.20.

Mawson Infrastructure Group (NASDAQ:MIGI) last issued its quarterly earnings data on Friday, March 27th. The company reported ($12.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.40) by ($1.71). The company had revenue of $3.23 million during the quarter, compared to analysts’ expectations of $5.30 million. As a group, equities analysts expect that Mawson Infrastructure Group will post -1.85 earnings per share for the current year.

Insider Activity at Mawson Infrastructure Group

In other news, major shareholder Endeavor Blockchain, Llc acquired 160,000 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was acquired at an average cost of $4.56 per share, with a total value of $729,600.00. Following the completion of the purchase, the insider owned 1,260,000 shares of the company’s stock, valued at $5,745,600. This represents a 14.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders acquired 424,118 shares of company stock worth $1,967,559 in the last ninety 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.