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

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) saw a large drop in short interest during the month of 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 volume of 40,367 shares, the short-interest ratio is presently 2.1 days. Currently, 7.4% of the company’s shares are sold short. Currently, 7.4% of the company’s shares are sold short. Based on an average daily volume of 40,367 shares, the short-interest ratio is presently 2.1 days.

Mawson Infrastructure Group Stock Performance

Mawson Infrastructure Group stock traded down $0.11 during trading on Friday, reaching $2.52. The company had a trading volume of 102,779 shares, compared to its average volume of 45,237. Mawson Infrastructure Group has a 12-month low of $2.01 and a 12-month high of $40.00. The stock’s 50 day moving average price is $3.62 and its two-hundred day moving average price is $8.88. The firm has a market capitalization of $2.87 million, a price-to-earnings ratio of -0.20 and a beta of 4.09.

Insider Activity

In other news, major shareholder Endeavor Blockchain, Llc acquired 42,100 shares of the business’s stock in a transaction dated Wednesday, January 28th. The stock was acquired at an average price of $4.57 per share, with a total value of $192,397.00. Following the completion of the transaction, the insider directly owned 1,500,000 shares in the company, valued at approximately $6,855,000. This represents a 2.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have bought 504,363 shares of company stock worth $2,311,556. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MIGI has been the subject of several recent analyst reports. Wall Street Zen cut shares of Mawson Infrastructure Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mawson Infrastructure Group in a research note 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 MarketBeat.com, the company presently has an average rating of “Reduce”.

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.