H.C. Wainwright Starts Mawson Infrastructure Group Inc. (MIGI) at Buy
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
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."
Shares of Mawson Infrastructure Group Inc. closed at $0.79 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Morgan Stanley Upgrades Sony Corp. (6758:JP) (SNE) to Overweight
- EV-Charging Company EVgo (EVGO) Gets a New Bullish Rating, Suggesting 57% Upside
- Bureau Veritas SA (BVI:FP) (BVRDF) PT Raised to EUR32 at HSBC
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesH.C. Wainwright
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!