HC Wainwright Has Negative Outlook for MIGI FY2024 Earnings

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) – Analysts at HC Wainwright cut their FY2024 earnings estimates for shares of Mawson Infrastructure Group in a note issued to investors on Tuesday, November 26th. HC Wainwright analyst K. Dede now forecasts that the company will post earnings of ($1.85) per share for the year, down from their previous 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 Trading Up 2.9 %

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MIGI. Virtu Financial LLC increased its stake in 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 acquired a new position in shares of Mawson Infrastructure Group in the 3rd quarter valued at $40,000. Finally, Jane Street Group LLC increased its position 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. Institutional investors own 6.86% of the company’s stock.

Insider Buying and Selling at Mawson Infrastructure Group

In other Mawson Infrastructure Group news, Director Ryan Costello sold 48,395 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was 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. This trade represents a 40.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.