Mawson Infrastructure Group (NASDAQ:MIGI) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Mawson Infrastructure Group (NASDAQ:MIGI) from a hold rating to a sell rating in a report published on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Mawson Infrastructure Group in a research report 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 data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Mawson Infrastructure Group Stock Performance

Shares of MIGI opened at $1.71 on Friday. The firm’s fifty day simple moving average is $2.94 and its 200-day simple moving average is $8.32. The firm has a market capitalization of $1.94 million, a price-to-earnings ratio of -0.14 and a beta of 4.20. Mawson Infrastructure Group has a twelve month low of $1.70 and a twelve month high of $40.00.

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 the consensus estimate 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. On average, analysts predict that Mawson Infrastructure Group will post -1.85 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Endeavor Blockchain, Llc purchased 42,100 shares of the stock in a transaction dated Wednesday, January 28th. The stock was acquired at an average cost of $4.57 per share, for a total transaction of $192,397.00. Following the completion of the acquisition, the insider directly owned 1,500,000 shares in the company, valued at $6,855,000. This represents a 2.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have bought 424,118 shares of company stock worth $1,967,559. 2.00% of the stock is owned by company insiders.

Mawson Infrastructure Group Company Profile

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.