MindWalk (NASDAQ:HYFT) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded MindWalk from hold to sell, adding to a mixed analyst backdrop that still includes buy ratings from JonesTrading and HC Wainwright.
• The stock rose 15.3% to open at $1.36, but it remains well below its 12-month high of $3.25 and has a market cap of about $63.5 million.
• MindWalk recently reported a quarterly EPS loss of $0.06, missing estimates, while revenue came in at $3.03 million and analysts expect a full-year loss of $0.17 per share.

MindWalk (NASDAQ:HYFT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

A number of other research analysts have also recently commented on HYFT. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of MindWalk in a research note on Wednesday, July 15th. JonesTrading assumed coverage on MindWalk in a research note on Thursday, April 16th. They set a "buy" rating and a $5.00 price target for the company. Finally, HC Wainwright restated a "buy" rating on shares of MindWalk in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $5.00.

MindWalk Trading Up 15.3%

MindWalk stock opened at $1.36 on Friday. MindWalk has a 12-month low of $0.99 and a 12-month high of $3.25. The company has a quick ratio of 3.64, a current ratio of 2.80 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $1.56. The company has a market cap of $63.53 million, a price-to-earnings ratio of -6.18 and a beta of 0.83.

MindWalk (NASDAQ:HYFT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). MindWalk had a negative net margin of 89.65% and a negative return on equity of 92.61%. The firm had revenue of $3.03 million for the quarter. As a group, sell-side analysts predict that MindWalk will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MindWalk

A number of institutional investors have recently modified their holdings of HYFT. Virtu Financial LLC bought a new stake in shares of MindWalk during the fourth quarter valued at approximately $51,000. Bridgeway Capital Management LLC bought a new position in MindWalk in the fourth quarter worth approximately $91,000. Bank of Montreal Can increased its holdings in MindWalk by 81.0% during the 4th quarter. Bank of Montreal Can now owns 54,750 shares of the company's stock worth $100,000 after purchasing an additional 24,500 shares during the period. XTX Topco Ltd increased its holdings in MindWalk by 118.6% during the 4th quarter. XTX Topco Ltd now owns 81,721 shares of the company's stock worth $149,000 after purchasing an additional 44,331 shares during the period. Finally, Jane Street Group LLC raised its position in MindWalk by 147.3% during the 4th quarter. Jane Street Group LLC now owns 161,202 shares of the company's stock valued at $293,000 after purchasing an additional 96,018 shares in the last quarter. 6.70% of the stock is owned by hedge funds and other institutional investors.

About MindWalk

ImmunoPrecise Antibodies Ltd., together with its subsidiaries, engages in antibody production and related services in the United States, Canada, Europe, and internationally. The company offers a range of antibodies, enzymes, enzyme activity assays, arthritis animal products, proteins, deiminated proteins, organoid growth factors, and hybridoma products for research purposes. Its services include custom antigen modeling, design, and manufacturing; B cell sorting, screening, and sequencing; custom, immune, and naive phage display production and screening; transgenic animals and multi-species antibody discovery; bi-specific, tri-specific, VHH, and VNAR (shark) antibody manufacturing; DNA cloning, protein and antibody downstream processing; antibody characterization on label-free biosensors and antibody engineering; transient and stable cell line generation; antibody optimization and humanization; hybridoma production with multiplexed, high-throughput screening, and clone-picking; and cryopreservation.

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