Mawson Infrastructure Group (NASDAQ:MIGI) Stock Rating Lowered by Wall Street Zen

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

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Mawson Infrastructure Group in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Mawson Infrastructure Group Stock Performance

Shares of MIGI stock opened at $1.71 on Friday. Mawson Infrastructure Group has a 1-year low of $1.70 and a 1-year high of $40.00. The stock has a market cap of $1.94 million, a price-to-earnings ratio of -0.14 and a beta of 4.20. The stock has a 50-day moving average of $2.94 and a 200-day moving average of $8.32.

Mawson Infrastructure Group (NASDAQ:MIGI) last posted its quarterly earnings data on Friday, March 27th. The company reported ($12.11) 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 the consensus estimate of $5.30 million. Sell-side analysts forecast that Mawson Infrastructure Group will post -1.85 earnings per share for the current year.

Insider Activity

In other Mawson Infrastructure Group news, major shareholder Endeavor Blockchain, Llc bought 160,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were bought at an average price of $4.56 per share, for a total transaction of $729,600.00. Following the transaction, the insider directly owned 1,260,000 shares in the company, valued at approximately $5,745,600. This trade represents a 14.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders bought 424,118 shares of company stock valued at $1,967,559. 2.00% of the stock is owned by 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.