Mirion Technologies (NYSE:MIR) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Mirion Technologies, Inc. (NYSE:MIR) saw strong trading volume on Tuesday . 749,424 shares changed hands during trading, a decline of 35% from the previous session’s volume of 1,161,406 shares.The stock last traded at $13.90 and had previously closed at $13.58.

Analyst Upgrades and Downgrades

Separately, B. Riley initiated coverage on shares of Mirion Technologies in a report on Thursday, September 26th. They issued a “buy” rating and a $14.00 target price for the company.

Mirion Technologies Stock Performance

The company has a quick ratio of 1.55, a current ratio of 2.18 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.18 billion, a P/E ratio of -33.16 and a beta of 0.79. The business has a 50 day moving average price of $10.73 and a 200 day moving average price of $10.69.

Mirion Technologies (NYSE:MIR) last issued its earnings results on Thursday, August 1st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $207.10 million for the quarter, compared to analyst estimates of $210.77 million. Mirion Technologies had a negative net margin of 7.80% and a positive return on equity of 3.81%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. As a group, sell-side analysts expect that Mirion Technologies, Inc. will post 0.31 EPS for the current year.

Insider Transactions at Mirion Technologies

In other news, insider Emmanuelle Lee sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $10.60, for a total value of $53,000.00. Following the completion of the sale, the insider now owns 138,193 shares in the company, valued at approximately $1,464,845.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Mirion Technologies news, insider Emmanuelle Lee sold 5,000 shares of Mirion Technologies stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $10.60, for a total value of $53,000.00. Following the transaction, the insider now owns 138,193 shares in the company, valued at $1,464,845.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas D. Logan sold 7,500 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $10.87, for a total transaction of $81,525.00. Following the sale, the chief executive officer now directly owns 1,544,017 shares of the company’s stock, valued at $16,783,464.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,639 shares of company stock valued at $568,947. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in shares of Mirion Technologies during the second quarter valued at $39,000. Central Pacific Bank Trust Division acquired a new stake in shares of Mirion Technologies in the first quarter worth $85,000. Algert Global LLC acquired a new position in Mirion Technologies during the second quarter valued at $189,000. Bayesian Capital Management LP purchased a new stake in Mirion Technologies in the first quarter valued at $226,000. Finally, Exchange Traded Concepts LLC grew its position in Mirion Technologies by 90.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 22,698 shares of the company’s stock worth $251,000 after purchasing an additional 10,781 shares during the period. 78.51% of the stock is owned by institutional investors and hedge funds.

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.