Mawson Infrastructure Group Inc. (NASDAQ:MIGI) Sees Significant Drop in Short Interest

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 696,800 shares, a drop of 29.1% from the August 15th total of 982,900 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 739,100 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On 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 disclosure with the SEC. The fund owned 33,984 shares of the company’s stock after buying an additional 23,758 shares during the period. Virtu Financial LLC owned approximately 0.19% of Mawson Infrastructure Group worth $52,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 6.86% of the company’s stock.

Wall Street Analyst Weigh In

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

Mawson Infrastructure Group Stock Down 0.8 %

Shares of NASDAQ MIGI traded down $0.01 on Friday, reaching $1.25. 409,703 shares of the company’s stock traded hands, compared to its average volume of 563,549. The business’s 50 day simple moving average is $1.36 and its two-hundred day simple moving average is $1.36. Mawson Infrastructure Group has a 12 month low of $0.46 and a 12 month high of $4.40. The company has a market cap of $23.19 million, a price-to-earnings ratio of -0.30 and a beta of 3.20. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.09.

Mawson Infrastructure Group (NASDAQ:MIGI) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.14. Mawson Infrastructure Group had a negative return on equity of 216.70% and a negative net margin of 107.21%. The company had revenue of $13.11 million during the quarter, compared to analyst estimates of $13.20 million. As a group, equities research analysts forecast that Mawson Infrastructure Group will post -1.6 EPS for the current fiscal year.

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.