Mawson Infrastructure Group Inc. (NASDAQ:MIGI) Sees Significant Increase in Short Interest

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) saw a significant increase in short interest in April. As of April 15th, there was short interest totaling 422,787 shares, an increase of 580.7% from the March 31st total of 62,111 shares. Based on an average daily volume of 2,741,483 shares, the days-to-cover ratio is presently 0.2 days. Currently, 7.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MIGI. Weiss Ratings restated a “sell (d-)” rating on shares of Mawson Infrastructure Group in a research report on Wednesday, January 28th. Wall Street Zen downgraded shares of Mawson Infrastructure Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Mawson Infrastructure Group Stock Performance

Mawson Infrastructure Group stock opened at $7.37 on Friday. Mawson Infrastructure Group has a 52 week low of $1.70 and a 52 week high of $40.00. The business’s 50-day simple moving average is $3.47 and its 200-day simple moving average is $7.88. The firm has a market capitalization of $40.46 million, a PE ratio of -0.58 and a beta of 4.20.

Mawson Infrastructure Group (NASDAQ:MIGI) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($12.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.40) by ($1.71). The firm had revenue of $3.23 million for the quarter, compared to the consensus estimate of $5.30 million.

Insiders Place Their Bets

In related news, major shareholder Endeavor Blockchain, Llc acquired 42,100 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were acquired at an average price of $4.57 per share, for a total transaction of $192,397.00. Following the completion of the purchase, the insider directly owned 1,500,000 shares of the company’s stock, valued at $6,855,000. The trade was a 2.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by insiders.

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.