MindWalk (NASDAQ:HYFT) Now Covered by JonesTrading

Key Points

• JonesTrading initiated coverage with a "Buy" and a $5.00 price target, implying about a 283% upside from the current share price.
• Analyst sentiment is mixed—three Buy, one Hold and one Sell—giving a MarketBeat consensus rating of Hold and an average target of $5.00.
• Fundamentals remain weak: HYFT traded at $1.31 with a market cap of ~$60.2M and reported Q1 EPS of -$0.06 (missing estimates), a negative net margin (~66.8%) and negative ROE.

JonesTrading assumed coverage on shares of MindWalk (NASDAQ:HYFT - Get Free Report) in a note issued to investors on Thursday,Benzinga reports. The firm set a "buy" rating and a $5.00 price target on the stock. JonesTrading's target price would suggest a potential upside of 283.14% from the company's current price.

HYFT has been the topic of a number of other research reports. HC Wainwright restated a "buy" rating on shares of MindWalk in a research note on Friday, March 13th. Zacks Research upgraded MindWalk from a "strong sell" rating to a "hold" rating in a research note on Monday, February 16th. Weiss Ratings began coverage on MindWalk in a research note on Wednesday, January 14th. They issued a "sell (d-)" rating on the stock. Finally, UBS Group reiterated a "buy" rating on shares of MindWalk in a research note on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $5.00.

MindWalk Stock Performance

NASDAQ HYFT traded up $0.03 during trading hours on Thursday, hitting $1.31. 197,892 shares of the company traded hands, compared to its average volume of 475,750. The stock has a 50-day simple moving average of $1.24. MindWalk has a twelve month low of $0.40 and a twelve month high of $3.25. The company has a quick ratio of 3.64, a current ratio of 3.74 and a debt-to-equity ratio of 0.21. The stock has a market cap of $60.24 million, a PE ratio of -6.53 and a beta of 0.63.

MindWalk (NASDAQ:HYFT - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). MindWalk had a negative net margin of 66.79% and a negative return on equity of 69.37%. The business had revenue of $3.00 million during the quarter, compared to analyst estimates of $3.50 million.

Institutional Investors Weigh In On MindWalk

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC lifted its stake in shares of MindWalk by 8.4% in the 4th quarter. Renaissance Technologies LLC now owns 239,080 shares of the company's stock valued at $435,000 after purchasing an additional 18,600 shares during the period. Jane Street Group LLC lifted its stake in shares of MindWalk by 147.3% in 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 during the period. XTX Topco Ltd lifted its stake in shares of MindWalk by 118.6% in the 4th quarter. XTX Topco Ltd now owns 81,721 shares of the company's stock valued at $149,000 after purchasing an additional 44,331 shares during the period. Bank of Montreal Can lifted its stake in shares of MindWalk by 81.0% in the 4th quarter. Bank of Montreal Can now owns 54,750 shares of the company's stock valued at $100,000 after purchasing an additional 24,500 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new position in shares of MindWalk in the 4th quarter valued at about $91,000. Institutional investors and hedge funds own 6.70% of the company's stock.

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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