Mirion Technologies (NYSE:MIR) Shares Gap Down - Should You Sell?

Key Points

• Mirion Technologies (NYSE:MIR) experienced a significant gap down in stock price, opening at $20.65 after closing at $21.97.
• Wall Street analysts are optimistic, with a consensus rating of Buy and an average price target of $23.80 following various upgrades from research firms.
• Despite the stock's current volatility, Mirion Technologies reported a 7.6% year-over-year increase in quarterly revenue, surpassing analysts' expectations for earnings per share.

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $21.97, but opened at $20.65. Mirion Technologies shares last traded at $20.36, with a volume of 1,176,017 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MIR. Northland Capmk raised shares of Mirion Technologies to a "strong-buy" rating in a research report on Sunday, August 24th. Wall Street Zen lowered shares of Mirion Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. B. Riley restated a "buy" rating and set a $22.00 price target (up from $17.00) on shares of Mirion Technologies in a report on Wednesday, July 23rd. Northland Securities started coverage on shares of Mirion Technologies in a report on Monday, August 25th. They set an "outperform" rating and a $26.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of Mirion Technologies from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat, Mirion Technologies currently has a consensus rating of "Buy" and an average price target of $23.80.

Mirion Technologies Stock Down 7.4%

The stock's fifty day moving average is $21.72 and its two-hundred day moving average is $18.74. The company has a current ratio of 2.54, a quick ratio of 2.01 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $4.76 billion, a PE ratio of 678.37 and a beta of 0.82.

Mirion Technologies (NYSE:MIR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $222.90 million for the quarter, compared to the consensus estimate of $216.78 million. Mirion Technologies had a net margin of 1.12% and a return on equity of 6.57%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. As a group, analysts predict that Mirion Technologies, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling at Mirion Technologies

In related news, CEO Thomas D. Logan sold 325,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $21.31, for a total value of $6,925,750.00. Following the transaction, the chief executive officer directly owned 3,742,305 shares of the company's stock, valued at approximately $79,748,519.55. The trade was a 7.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Mirion Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fortress Investment Group LLC bought a new stake in Mirion Technologies in the 2nd quarter valued at about $32,000. EverSource Wealth Advisors LLC raised its stake in Mirion Technologies by 470.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock valued at $35,000 after acquiring an additional 1,354 shares during the period. AlphaQuest LLC raised its stake in Mirion Technologies by 360,400.0% in the 1st quarter. AlphaQuest LLC now owns 3,605 shares of the company's stock valued at $52,000 after acquiring an additional 3,604 shares during the period. FSC Wealth Advisors LLC bought a new stake in Mirion Technologies in the 2nd quarter valued at about $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Mirion Technologies in the 1st quarter valued at about $68,000. 78.51% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.