Mawson Infrastructure Group Inc. (NASDAQ:MIGI) Short Interest Update

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) was the target of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 61,545 shares, a decrease of 25.9% from the February 26th total of 83,053 shares. Approximately 5.5% of the company’s shares are short sold. Based on an average trading volume of 53,860 shares, the days-to-cover ratio is presently 1.1 days.

Mawson Infrastructure Group Price Performance

Shares of MIGI stock traded down $0.42 during trading hours on Friday, reaching $1.97. The company had a trading volume of 168,425 shares, compared to its average volume of 50,505. Mawson Infrastructure Group has a 12 month low of $1.82 and a 12 month high of $40.00. The business has a fifty day simple moving average of $3.21 and a 200-day simple moving average of $8.53. The company has a market cap of $2.25 million, a price-to-earnings ratio of -0.16 and a beta of 4.09.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Mawson Infrastructure Group from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mawson Infrastructure Group in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Insiders Place Their Bets

In related news, major shareholder Endeavor Blockchain, Llc bought 42,100 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The shares were bought at an average price of $4.57 per share, for a total transaction of $192,397.00. Following the transaction, the insider directly owned 1,500,000 shares of the company’s stock, valued at approximately $6,855,000. The trade was a 2.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders bought 424,118 shares of company stock worth $1,967,559. Company insiders own 2.00% of the company’s stock.

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.