Mawson Infrastructure Group (NASDAQ:MIGI) Posts Quarterly Earnings Results, Misses Expectations By $1.71 EPS

Mawson Infrastructure Group (NASDAQ:MIGI) announced its quarterly earnings data on Tuesday. The company reported ($12.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.40) by ($1.71), FiscalAI reports. The company had revenue of $3.23 million for the quarter, compared to the consensus estimate of $5.30 million.

Mawson Infrastructure Group Stock Performance

Shares of MIGI traded up $0.05 during mid-day trading on Tuesday, hitting $1.95. 116,301 shares of the company traded hands, compared to its average volume of 58,596. The stock has a 50-day moving average price of $3.11 and a two-hundred day moving average price of $8.46. Mawson Infrastructure Group has a 1 year low of $1.74 and a 1 year high of $40.00. The stock has a market cap of $2.22 million, a price-to-earnings ratio of -0.15 and a beta of 4.09.

Analyst Upgrades and Downgrades

A number of research firms have commented on MIGI. Wall Street Zen lowered Mawson Infrastructure Group from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mawson Infrastructure Group in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Insiders Place Their Bets

In related news, major shareholder Endeavor Blockchain, Llc bought 160,000 shares of the company’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 completion of the acquisition, the insider owned 1,260,000 shares of the company’s stock, valued at $5,745,600. This trade represents a 14.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 424,118 shares of company stock worth $1,967,559 in the last 90 days. 2.00% of the stock is owned by corporate 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.