Mawson Infrastructure Group (NASDAQ:MIGI) Stock Price Down 9.6% – Time to Sell?

Mawson Infrastructure Group Inc. (NASDAQ:MIGI)’s share price was down 9.6% on Thursday . The company 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 Analyst Weigh In

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

Mawson Infrastructure Group Stock Performance

The stock has a market capitalization of $29.49 million, a price-to-earnings ratio of -0.44 and a beta of 3.16. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.09. The stock’s 50-day simple moving average is $1.34 and its 200 day simple moving average is $1.35.

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

Insiders Place Their Bets

In related news, Director Ryan Costello sold 48,395 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $1.25, for a total transaction of $60,493.75. Following the completion of the sale, the director now directly owns 70,000 shares of the company’s stock, valued at $87,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 grew its stake in Mawson Infrastructure Group Inc. (NASDAQ:MIGI) by 232.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,984 shares of the company’s stock after buying an additional 23,758 shares during the quarter. Virtu Financial LLC owned 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.