Mirion Technologies (NYSE:MIR) Shares Cross Above 200 Day Moving Average - Time to Sell?

Shares of Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $18.11 and traded as high as $19.67. Mirion Technologies shares last traded at $19.4860, with a volume of 5,656,887 shares traded.

Analyst Upgrades and Downgrades

MIR has been the subject of several research reports. Jefferies Financial Group initiated coverage on Mirion Technologies in a research note on Thursday, September 3rd. They issued a "buy" rating and a $20.00 target price for the company. Weiss Ratings downgraded Mirion Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, October 30th. Morgan Stanley dropped their price target on Mirion Technologies from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Monday, July 13th. B. Riley Financial reiterated a "buy" rating and issued a $25.00 price target (down from $27.00) on shares of Mirion Technologies in a report on Thursday, October 29th. Finally, Citigroup reduced their price objective on Mirion Technologies from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.88.

Mirion Technologies Price Performance

The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 162.40 and a beta of 1.07. The business's fifty day moving average price is $16.12 and its 200-day moving average price is $18.11. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.02 and a quick ratio of 2.49.

Mirion Technologies (NYSE:MIR - Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $277.80 million during the quarter, compared to the consensus estimate of $275.35 million. Mirion Technologies had a net margin of 2.69% and a return on equity of 6.82%. The firm's revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. On average, research analysts forecast that Mirion Technologies, Inc. will post 0.54 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC grew its holdings in shares of Mirion Technologies by 8.5% in the second quarter. Tidal Investments LLC now owns 840,683 shares of the company's stock valued at $15,073,000 after acquiring an additional 65,670 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Mirion Technologies by 31.2% during the second quarter. Wellington Management Group LLP now owns 1,098,987 shares of the company's stock valued at $19,705,000 after acquiring an additional 261,175 shares during the last quarter. Madison Asset Management LLC bought a new stake in Mirion Technologies during the second quarter worth $3,407,000. Lazard Asset Management LLC lifted its holdings in Mirion Technologies by 125.4% during the first quarter. Lazard Asset Management LLC now owns 322,421 shares of the company's stock worth $5,994,000 after acquiring an additional 179,358 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in Mirion Technologies during the second quarter worth $2,597,000. Hedge funds and other institutional investors own 78.51% of the company's stock.

About Mirion Technologies

Mirion Technologies develops radiation detection, measurement and monitoring solutions for customers in the medical, nuclear energy, industrial, defense and research markets. Its products and services help organizations measure radiation, protect workers and the public, and support the safe operation of nuclear facilities.

The company's offerings include radiation-monitoring systems and instruments, personal dosimetry services, nuclear measurement and control equipment, and technologies used in medical imaging and radiation therapy.

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