H.C. Wainwright Starts Mawson Infrastructure Group Inc. (MIGI) at Buy

June 1, 2021 6:52 AM EDT
Get Alerts MIGI Hot Sheet
Price: $0.88 +3.53%

Rating Summary:
    1 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 27 | New: 42
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H.C. Wainwright analyst Kevin Dede initiates coverage on Mawson Infrastructure Group Inc. (OTC: MIGI) with a Buy rating and a price target of $1.50.

The analyst comments " Formerly known as Cosmos Capital Limited, through a series of financial transactions and the adoption of the empty shell of publicly-traded Wize Pharma, began trading on Nasdaq on May 9. Aside from its target of 2.0 EH/s by year end, Mawson has designed and built new mining technologies, including full miner immersion, in its mission to optimize the use of inefficient energy while on its way to achieve its objective to be a world-class digital asset infrastructure—cryptocurrency mining—business. We are impressed by the company's boot-strapping financial moxie in concert with commitment to economically savvy miner development, some of which appears to have been “home garage” initiatives that perhaps may not have yet reached industrial class, but could, if not already have, set Mawson ahead of competitors on introduction. Our bullish stance boils down to these five observations: (1) agreements with: (a) site managers, (b) power suppliers, and (c) equipment suppliers to meet expected 2.0 EH/s 2021 year-end target in an equipment supply strained environment; (2) the in-house engineering wherewithal to develop leading-edge immersion cooling systems; (3) an all-important “get er done” attitude proven in accomplishing much with extremely little manpower; (4) our underlying bitcoin bullishness expressed in the concurrently released industry note, With Crypto Now Institutionalized and Ingrained, Many North American Miners Are Poised to Pounce; and (5) capability and objectives we see as having little investor understanding and as familiarity improves, valuation should follow."

For an analyst ratings summary and ratings history on Mawson Infrastructure Group Inc. click here. For more ratings news on Mawson Infrastructure Group Inc. click here.

Shares of Mawson Infrastructure Group Inc. closed at $0.79 yesterday.

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