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

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) saw a large increase in short interest in December. As of December 15th, there was short interest totaling 356,442 shares, an increase of 136.4% from the November 30th total of 150,764 shares. Based on an average daily volume of 7,219,988 shares, the days-to-cover ratio is currently 0.0 days. Approximately 31.8% of the shares of the stock are sold short. Approximately 31.8% of the shares of the stock are sold short. Based on an average daily volume of 7,219,988 shares, the days-to-cover ratio is currently 0.0 days.

Mawson Infrastructure Group Stock Performance

Shares of MIGI traded up $0.05 during trading hours on Friday, reaching $4.50. The stock had a trading volume of 273,558 shares, compared to its average volume of 4,254,958. Mawson Infrastructure Group has a 12 month low of $3.95 and a 12 month high of $40.00. The stock has a market capitalization of $5.13 million, a PE ratio of -0.36 and a beta of 4.62. The company’s 50-day moving average is $12.44 and its two-hundred day moving average is $11.09.

Mawson Infrastructure Group (NASDAQ:MIGI) last posted its earnings results on Friday, November 14th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of ($10.60) by $10.80. The firm had revenue of $13.18 million during the quarter, compared to the consensus estimate of $5.30 million. Equities analysts anticipate that Mawson Infrastructure Group will post -1.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Mawson Infrastructure Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Zacks Research upgraded shares of Mawson Infrastructure Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mawson Infrastructure Group in a report on Friday, October 31st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Mawson Infrastructure Group

An institutional investor recently bought a new position in Mawson Infrastructure Group stock. Ieq Capital LLC purchased a new position in shares of Mawson Infrastructure Group Inc. (NASDAQ:MIGI) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 244,500 shares of the company’s stock, valued at approximately $122,000. Ieq Capital LLC owned 1.30% of Mawson Infrastructure Group as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 6.86% of the company’s stock.

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.