Mawson Infrastructure Group (NASDAQ:MIGI) Stock Price Down 9.6% – What’s Next?

Mawson Infrastructure Group Inc. (NASDAQ:MIGI)’s share price dropped 9.6% on Thursday . The stock traded as low as $1.60 and last traded at $1.61. Approximately 249,376 shares changed hands during trading, a decline of 58% from the average daily volume of 588,965 shares. The stock had previously closed at $1.78.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “neutral” rating on shares of Mawson Infrastructure Group in a research report on Wednesday, August 21st.

Mawson Infrastructure Group Price Performance

The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $1.34 and a two-hundred day moving average price of $1.35. The firm has a market cap of $29.87 million, a P/E ratio of -0.44 and a beta of 3.18.

Mawson Infrastructure Group (NASDAQ:MIGI) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.14. The company had revenue of $13.11 million for the quarter, compared to the consensus estimate of $13.20 million. Mawson Infrastructure Group had a negative net margin of 107.21% and a negative return on equity of 216.70%. Equities analysts anticipate that Mawson Infrastructure Group Inc. will post -1.6 earnings per share for the current year.

Insider Buying and Selling at Mawson Infrastructure Group

In related news, Director Ryan Costello sold 48,395 shares of Mawson Infrastructure Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $1.25, for a total transaction of $60,493.75. Following the completion of the transaction, the director now owns 70,000 shares in the company, valued at approximately $87,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.44% of the company’s stock.

Institutional Investors Weigh In On Mawson Infrastructure Group

A hedge fund recently raised its stake in Mawson Infrastructure Group stock. Virtu Financial LLC increased its stake in shares of Mawson Infrastructure Group Inc. (NASDAQ:MIGI) by 232.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,984 shares of the company’s stock after purchasing an additional 23,758 shares during the quarter. Virtu Financial LLC owned approximately 0.19% of Mawson Infrastructure Group worth $52,000 at the end of the most recent reporting period. Institutional investors own 6.86% of the company’s stock.

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.