Short Interest in Mawson Infrastructure Group Inc. (NASDAQ:MIGI) Decreases By 23.7%

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 83,053 shares, a drop of 23.7% from the February 12th total of 108,900 shares. Based on an average trading volume of 40,367 shares, the short-interest ratio is currently 2.1 days. Approximately 7.4% of the shares of the stock are sold short. Approximately 7.4% of the shares of the stock are sold short. Based on an average trading volume of 40,367 shares, the short-interest ratio is currently 2.1 days.

Insiders Place Their Bets

In related news, major shareholder Endeavor Blockchain, Llc bought 160,000 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 1,260,000 shares in the company, valued at $5,745,600. The trade was a 14.55% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders acquired 504,363 shares of company stock valued at $2,311,556. 2.00% of the stock is owned by insiders.

Mawson Infrastructure Group Stock Down 4.2%

Shares of MIGI stock traded down $0.11 during trading hours on Friday, reaching $2.52. The company’s stock had a trading volume of 102,779 shares, compared to its average volume of 46,664. Mawson Infrastructure Group has a fifty-two week low of $2.01 and a fifty-two week high of $40.00. The firm’s 50 day simple moving average is $3.62 and its 200-day simple moving average is $8.88. The company has a market capitalization of $2.87 million, a price-to-earnings ratio of -0.20 and a beta of 4.09.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen downgraded Mawson Infrastructure Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mawson Infrastructure Group in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Mawson Infrastructure Group has a consensus rating of “Reduce”.

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.