Short Interest in Mawson Infrastructure Group Inc. (NASDAQ:MIGI) Declines By 23.7%

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 83,053 shares, a drop of 23.7% from the February 12th total of 108,900 shares. Based on an average daily trading volume, of 40,367 shares, the short-interest ratio is presently 2.1 days. Approximately 7.4% of the shares of the stock are short sold. Approximately 7.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 40,367 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, major shareholder Endeavor Blockchain, Llc purchased 42,100 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The shares were acquired at an average price of $4.57 per share, with a total value of $192,397.00. Following 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 this link. In the last three months, insiders have purchased 504,363 shares of company stock worth $2,311,556. 2.00% of the stock is currently owned by company insiders.

Mawson Infrastructure Group Stock Down 4.2%

Shares of Mawson Infrastructure Group stock traded down $0.11 during trading on Friday, hitting $2.52. 102,779 shares of the company were exchanged, compared to its average volume of 45,237. Mawson Infrastructure Group has a fifty-two week low of $2.01 and a fifty-two week high of $40.00. The stock has a market capitalization of $2.87 million, a price-to-earnings ratio of -0.20 and a beta of 4.09. The firm has a 50 day moving average price of $3.62 and a 200 day moving average price of $8.88.

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.