Mawson Infrastructure Group (NASDAQ:MIGI) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Mawson Infrastructure Group (NASDAQ:MIGI) to a sell rating in a research note released on Saturday.

A number of other analysts have also recently issued reports on MIGI. Weiss Ratings reissued a “sell (d-)” rating on shares of Mawson Infrastructure Group in a research report on Friday, October 31st. Zacks Research raised Mawson Infrastructure Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Mawson Infrastructure Group has a consensus rating of “Reduce”.

Mawson Infrastructure Group Price Performance

Shares of Mawson Infrastructure Group stock traded down $0.01 on Friday, reaching $1.05. 2,649,311 shares of the company were exchanged, compared to its average volume of 2,299,600. The stock’s 50 day moving average price is $0.81 and its 200-day moving average price is $0.62. Mawson Infrastructure Group has a 1-year low of $0.28 and a 1-year high of $2.33. The company has a market cap of $18.13 million, a P/E ratio of -0.81 and a beta of 3.98.

Mawson Infrastructure Group (NASDAQ:MIGI) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.28). The company had revenue of $9.53 million for the quarter, compared to the consensus estimate of $13.70 million. On average, research analysts predict that Mawson Infrastructure Group will post -1.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mawson Infrastructure Group

A hedge fund recently bought a new stake in Mawson Infrastructure Group stock. Ieq Capital LLC acquired a new position in shares of Mawson Infrastructure Group Inc. (NASDAQ:MIGI) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 244,500 shares of the company’s stock, valued at approximately $122,000. Ieq Capital LLC owned about 1.30% of Mawson Infrastructure Group as of its most recent filing with the SEC. 6.86% of the stock is owned by hedge funds and other institutional investors.

About Mawson Infrastructure Group

Mawson Infrastructure Group Inc develops and operates digital infrastructure for digital currency on the bitcoin blockchain network in the United States. It engages in digital currency or bitcoin self-mining, customer co-location and related services, and energy markets, as well as operates data center facilities.