Mirion Technologies Inc. (NYSE: MIR) stock jumped 1.18% on Thursday to $7.70 against a previous-day closing price of $7.61. With 1.32 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.18 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $7.78 whereas the lowest price it dropped to was $7.64. The 52-week range on MIR shows that it touched its highest point at $9.53 and its lowest point at $5.59 during that stretch. It currently has a 1-year price target of $10.67. Beta for the stock currently stands at 0.50.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MIR was down-trending over the past week, with a drop of -2.65%, but this was up by 0.65% over a month. Three-month performance dropped to -4.23% while six-month performance rose 3.49%. The stock lost -1.03% in the past year, while it has gained 16.49% so far this year. A look at the trailing 12-month EPS for MIR yields -1.47 with Next year EPS estimates of 0.40. For the next quarter, that number is 0.05. This implies an EPS growth rate of -138.50% for this year and 22.91% for next year.
Float and Shares Shorts:
At present, 225.79 million MIR shares are outstanding with a float of 205.44 million shares on hand for trading. On Aug 30, 2023, short shares totaled 7.67 million, which was 3.52% higher than short shares on Jul 30, 2023. In addition to Mr. Thomas D. Logan as the firm’s Founder, CEO & Director, Mr. Brian Schopfer serves as its Chief Financial Officer.
Through their ownership of 85.78% of MIR’s outstanding shares, institutional investors have majority control over the company.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, MIR reported revenue of $175.80M and operating income of -$19.40M. The EBITDA in the recently reported quarter was $25.50M and diluted EPS was -$0.32.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MIR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MIR analysts setting a high price target of $11.00 and a low target of $10.00, the average target price over the next 12 months is $10.67. Based on these targets, MIR could surge 42.86% to reach the target high and rise by 29.87% to reach the target low. Reaching the average price target will result in a growth of 38.57% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded MIR stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 9,972 shares were bought while 0 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 194,561 while 9,834,016 shares were sold.