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

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 210,087 shares, a decline of 41.1% from the December 15th total of 356,442 shares. Currently, 18.8% of the company’s shares are sold short. Based on an average daily volume of 461,188 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 461,188 shares, the days-to-cover ratio is currently 0.5 days. Currently, 18.8% of the company’s shares are sold short.

Analyst Ratings Changes

A number of equities analysts have commented on MIGI shares. Zacks Research upgraded shares of Mawson Infrastructure Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Wall Street Zen cut Mawson Infrastructure Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mawson Infrastructure Group in a report on Friday, October 31st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Mawson Infrastructure Group has an average rating of “Reduce”.

Insider Activity at Mawson Infrastructure Group

In related news, major shareholder Endeavor Blockchain, Llc purchased 160,000 shares of Mawson Infrastructure Group stock in a transaction that occurred on Friday, January 9th. The shares were bought at an average price of $4.56 per share, with a total value of $729,600.00. Following the purchase, the insider directly owned 1,260,000 shares of the company’s stock, valued at approximately $5,745,600. This represents a 14.55% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Mawson Infrastructure Group Stock Up 8.0%

Shares of NASDAQ MIGI traded up $0.35 during midday trading on Friday, reaching $4.75. 398,628 shares of the company’s stock traded hands, compared to its average volume of 252,777. The company has a market cap of $5.42 million, a price-to-earnings ratio of -0.38 and a beta of 4.55. The stock’s 50 day simple moving average is $6.13 and its 200-day simple moving average is $10.63. Mawson Infrastructure Group has a one year low of $3.79 and a one year high of $40.00.

Mawson Infrastructure Group (NASDAQ:MIGI) last issued its quarterly earnings data on Friday, November 14th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($10.60) by $10.80. The business had revenue of $13.18 million during the quarter, compared to the consensus estimate of $5.30 million. Equities analysts predict that Mawson Infrastructure Group will post -1.85 EPS for the current fiscal year.

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.