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

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) shares traded down 9.6% during trading on Thursday . The stock traded as low as $1.60 and last traded at $1.61. 249,376 shares were traded during trading, a decline of 58% from the average session 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 note on Wednesday, August 21st.

Mawson Infrastructure Group Trading Down 1.2 %

The stock has a market cap 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 business’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 quarterly earnings results on Monday, August 19th. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.14. The firm had revenue of $13.11 million during the quarter, compared to analysts’ expectations of $13.20 million. Mawson Infrastructure Group had a negative net margin of 107.21% and a negative return on equity of 216.70%. On average, research analysts expect that Mawson Infrastructure Group Inc. will post -1.6 EPS for the current fiscal year.

Insider Transactions at Mawson Infrastructure Group

In other news, Director Ryan Costello sold 48,395 shares of the firm’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 completion of the sale, the director now owns 70,000 shares in the company, valued at approximately $87,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.44% of the stock is currently owned by corporate insiders.

Institutional Trading of Mawson Infrastructure Group

An institutional investor recently raised its position in Mawson Infrastructure Group stock. Virtu Financial LLC grew its position in Mawson Infrastructure Group Inc. (NASDAQ:MIGI) by 232.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing. 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.