Mawson Infrastructure Group (NASDAQ:MIGI) Shares Down 1.1% – Here’s What Happened

Mawson Infrastructure Group Inc. (NASDAQ:MIGI)’s share price dropped 1.1% during trading on Monday . The stock traded as low as $2.59 and last traded at $2.75. Approximately 103,613 shares traded hands during mid-day trading, an increase of 113% from the average daily volume of 48,552 shares. The stock had previously closed at $2.78.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mawson Infrastructure Group in a research note on Wednesday, January 28th. Wall Street Zen cut Mawson Infrastructure Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce”.

Mawson Infrastructure Group Price Performance

The company has a fifty day moving average price of $3.72 and a 200 day moving average price of $9.01. The stock has a market cap of $3.10 million, a P/E ratio of -0.22 and a beta of 4.09.

Insider Buying and Selling

In other Mawson Infrastructure Group news, major shareholder Endeavor Blockchain, Llc acquired 42,100 shares of the company’s stock in a transaction on Wednesday, January 28th. The shares were purchased at an average cost of $4.57 per share, with a total value of $192,397.00. Following the completion of the purchase, the insider owned 1,500,000 shares of the company’s stock, valued at approximately $6,855,000. This represents a 2.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have acquired 726,363 shares of company stock worth $3,884,376. Insiders own 2.00% of the company’s stock.

About Mawson Infrastructure Group

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.