HC Wainwright Issues Pessimistic Estimate for MIGI Earnings

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) – Analysts at HC Wainwright reduced their FY2024 EPS estimates for shares of Mawson Infrastructure Group in a research note issued to investors on Tuesday, November 26th. HC Wainwright analyst K. Dede now expects that the company will post earnings of ($1.85) per share for the year, down from their prior forecast of ($1.60). HC Wainwright has a “Neutral” rating on the stock. The consensus estimate for Mawson Infrastructure Group’s current full-year earnings is ($1.85) per share. HC Wainwright also issued estimates for Mawson Infrastructure Group’s Q4 2024 earnings at ($0.22) EPS.

Mawson Infrastructure Group Price Performance

NASDAQ MIGI opened at $2.14 on Thursday. The stock has a 50-day simple moving average of $1.55 and a 200 day simple moving average of $1.43. Mawson Infrastructure Group has a twelve month low of $0.69 and a twelve month high of $4.40. The stock has a market capitalization of $40.04 million, a PE ratio of -0.68 and a beta of 3.16. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.39 and a current ratio of 0.39.

Hedge Funds Weigh In On Mawson Infrastructure Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC raised its stake in shares of Mawson Infrastructure Group by 232.3% in the first quarter. Virtu Financial LLC now owns 33,984 shares of the company’s stock valued at $52,000 after purchasing an additional 23,758 shares in the last quarter. Regal Partners Ltd bought a new stake in Mawson Infrastructure Group in the 3rd quarter valued at $40,000. Finally, Jane Street Group LLC raised its stake in shares of Mawson Infrastructure Group by 305.5% in the 3rd quarter. Jane Street Group LLC now owns 67,619 shares of the company’s stock valued at $84,000 after buying an additional 50,945 shares in the last quarter. 6.86% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ryan Costello sold 48,395 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $1.25, for a total transaction of $60,493.75. Following the transaction, the director now owns 70,000 shares in the company, valued at approximately $87,500. The trade was a 40.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.44% 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.