Mirion Technologies (NYSE:MIR) Stock Price Down 15.8% – Time to Sell?

Shares of Mirion Technologies, Inc. (NYSE:MIR) were down 15.8% during mid-day trading on Monday . The company traded as low as $15.49 and last traded at $15.24. Approximately 723,076 shares were traded during trading, a decline of 59% from the average daily volume of 1,755,098 shares. The stock had previously closed at $18.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup upped their price objective on Mirion Technologies from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird began coverage on shares of Mirion Technologies in a report on Thursday, December 19th. They issued an “outperform” rating and a $22.00 target price on the stock. The Goldman Sachs Group raised their price objective on shares of Mirion Technologies from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Baird R W raised Mirion Technologies to a “strong-buy” rating in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $19.25.

Mirion Technologies Stock Down 17.8 %

The firm has a market cap of $3.46 billion, a P/E ratio of -43.74 and a beta of 0.75. The stock’s fifty day moving average is $17.16 and its two-hundred day moving average is $13.66. The company has a current ratio of 2.16, a quick ratio of 1.55 and a debt-to-equity ratio of 0.43.

Mirion Technologies (NYSE:MIR) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Mirion Technologies had a positive return on equity of 4.33% and a negative net margin of 7.84%. The business had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $203.67 million. During the same quarter in the previous year, the business earned $0.03 EPS. Mirion Technologies’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that Mirion Technologies, Inc. will post 0.33 earnings per share for the current year.

Insider Transactions at Mirion Technologies

In other Mirion Technologies news, insider Emmanuelle Lee sold 3,405 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $14.27, for a total value of $48,589.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MIR. State Street Corp raised its holdings in shares of Mirion Technologies by 2.7% in the third quarter. State Street Corp now owns 5,365,728 shares of the company’s stock worth $59,399,000 after buying an additional 138,648 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Mirion Technologies by 3.4% in the third quarter. Geode Capital Management LLC now owns 4,502,455 shares of the company’s stock valued at $49,851,000 after purchasing an additional 147,408 shares during the period. Corsair Capital Management L.P. raised its holdings in shares of Mirion Technologies by 83.9% during the third quarter. Corsair Capital Management L.P. now owns 3,160,850 shares of the company’s stock valued at $34,991,000 after acquiring an additional 1,441,846 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in shares of Mirion Technologies by 8.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,000,060 shares of the company’s stock worth $33,211,000 after buying an additional 241,334 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in shares of Mirion Technologies in the 4th quarter worth $38,155,000. Hedge funds and other institutional investors own 78.51% of the company’s stock.

About Mirion Technologies

Mirion Technologies, Inc provides radiation detection, measurement, analysis, and monitoring products and services in the United States, Canada, the United Kingdom, France, Germany, Finland, China, Belgium, Netherlands, Estonia, South Korea, and Japan. It operates through two segments, Medical and Technologies.