Mawson Infrastructure Group, Inc. (NASDAQ:MIGI – Get Rating)'s share price dropped 12.6% during trading on Monday . The stock traded as low as $0.51 and last traded at $0.54. Approximately 447,800 shares traded hands during mid-day trading, an increase of 103% from the average daily volume of 221,080 shares. The stock had previously closed at $0.62.
Analyst Ratings Changes
A number of analysts recently commented on MIGI shares. HC Wainwright decreased their price target on Mawson Infrastructure Group from $17.00 to $3.00 in a research report on Wednesday, August 24th. Cantor Fitzgerald decreased their price target on Mawson Infrastructure Group from $12.00 to $3.00 in a research report on Wednesday, August 24th.
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Mawson Infrastructure Group Stock Performance
The stock has a market capitalization of $52 million, a P/E ratio of 3.37 and a beta of 2.36. The company has a 50 day simple moving average of $0.81 and a 200-day simple moving average of $2.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.18 and a quick ratio of 0.18.
Mawson Infrastructure Group (NASDAQ:MIGI – Get Rating) last announced its quarterly earnings results on Monday, August 22nd. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.18. The company had revenue of $19.78 million during the quarter, compared to analysts' expectations of $32.90 million. Mawson Infrastructure Group had a positive return on equity of 4.99% and a negative net
margin of 19.26%. During the same period in the previous year, the business earned ($0.10) earnings per share. On average, equities analysts forecast that Mawson Infrastructure Group, Inc. will post -0.51 EPS for the current year.
Hedge Funds Weigh In On Mawson Infrastructure Group
Several hedge funds have recently made changes to their positions in MIGI. Mirae Asset Global Investments Co. Ltd. purchased a new position in Mawson Infrastructure Group during the second quarter worth about $40,000. Intrinsic Edge Capital Management LLC purchased a new position in shares of Mawson Infrastructure Group in the 2nd quarter worth about $44,000. Credit Suisse AG lifted its stake in shares of Mawson Infrastructure Group by 24.4% in the 2nd quarter. Credit Suisse AG now owns 58,300 shares of the company's stock valued at $64,000 after acquiring an additional 11,430 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Mawson Infrastructure Group in the 1st quarter valued at about $137,000. Finally, Millennium Management LLC raised its position in Mawson Infrastructure Group by 216.8% during the 2nd quarter. Millennium Management LLC now owns 161,879 shares of the company's stock valued at $176,000 after purchasing an additional 110,780 shares during the last quarter. 3.73% of the stock is currently owned by hedge funds and other institutional investors.
About Mawson Infrastructure Group
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Mawson Infrastructure Group Inc, a digital infrastructure provider, operates in cryptocurrency mining in the United States and Australia. It owns and operates modular data centers. The company is based in North Sydney, Australia.
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