Mirion Technologies (NYSE:MIR) Shares Down 15.8% - Here's Why

Shares of Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) dropped 15.8% during trading on Monday . The company traded as low as $15.49 and last traded at $15.24. Approximately 723,076 shares were traded during mid-day 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 research firms have recently issued reports on MIR. Robert W. Baird assumed coverage on Mirion Technologies in a research report on Thursday, December 19th. They set an "outperform" rating and a $22.00 price objective on the stock. Baird R W raised shares of Mirion Technologies to a "strong-buy" rating in a report on Thursday, December 19th. 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 report on Thursday, December 12th. Finally, Citigroup upped their target price on shares of Mirion Technologies from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $19.25.

Mirion Technologies Trading Up 5.2 %

The firm has a market cap of $3.60 billion, a P/E ratio of -45.62 and a beta of 0.75. The company has a current ratio of 2.16, a quick ratio of 1.55 and a debt-to-equity ratio of 0.43. The company's fifty day moving average price is $17.10 and its two-hundred day moving average price is $13.71.

Mirion Technologies (NYSE:MIR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $206.80 million for the quarter, compared to analyst estimates of $203.67 million. Mirion Technologies had a positive return on equity of 4.33% and a negative net margin of 7.84%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. As a group, sell-side analysts predict that Mirion Technologies, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity at Mirion Technologies

In other news, insider Emmanuelle Lee sold 3,405 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $14.27, for a total transaction of $48,589.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.20% of the company's stock.

Institutional Trading of Mirion Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in Mirion Technologies by 1,532.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 520,692 shares of the company's stock valued at $8,810,000 after buying an additional 488,790 shares during the last quarter. Longboard Asset Management LP acquired a new position in shares of Mirion Technologies during the fourth quarter valued at $202,000. Jennison Associates LLC boosted its holdings in Mirion Technologies by 10.5% in the fourth quarter. Jennison Associates LLC now owns 514,314 shares of the company's stock valued at $8,975,000 after acquiring an additional 48,761 shares during the last quarter. KBC Group NV boosted its holdings in Mirion Technologies by 39.2% in the fourth quarter. KBC Group NV now owns 8,002 shares of the company's stock valued at $140,000 after acquiring an additional 2,254 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Mirion Technologies by 291.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 88,830 shares of the company's stock worth $1,550,000 after purchasing an additional 66,132 shares during the period. Institutional investors and hedge funds own 78.51% of the company's stock.

Mirion Technologies Company Profile

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.