Mirion Technologies Inc. [NYSE: MIR] jumped around 0.03 points on Friday, while shares priced at $9.23 at the close of the session, up 0.33%. The company report on March 2, 2023 that Mirion Technologies Announces Pricing of Public Offering by Selling Stockholders.
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Mirion Technologies, Inc. (“Mirion,” “we” or the “company”) (NYSE: MIR), a global provider of radiation detection, measurement, analysis and monitoring solutions to the medical, nuclear, defense, and research end markets, today announced the pricing of an underwritten public offering of 9,786,153 shares of Mirion’s Class A common stock by certain selling stockholders at a price to the public of $8.75 per share. Selling stockholders participating in the offering consist of entities affiliated with Charterhouse Capital Partners. Mirion will not sell any securities in the public offering and will not receive any of the proceeds from the sale of the shares being offered by the selling stockholders but Mirion will bear the costs associated with the public offering, other than underwriting discounts and commissions and certain other expenses. The offering is expected to close on March 7, 2023, subject to customary closing conditions.
Jefferies is acting as the sole bookrunner for the offering.
Mirion Technologies Inc. stock is now 39.64% up from its year-to-date (YTD) trading value. MIR Stock saw the intraday high of $9.52 and lowest of $9.21 per share. The company’s 52-week high price is 9.53, which means current price is +39.43% above from all time high which was touched on 02/22/23.
Compared to the average trading volume of 1.61M shares, MIR reached a trading volume of 11740797 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Mirion Technologies Inc. [MIR]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MIR shares is $10.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MIR stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
CJS Securities have made an estimate for Mirion Technologies Inc. shares, keeping their opinion on the stock as Market Outperform, with their previous recommendation back on March 24, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on November 29, 2021, representing the official price target for Mirion Technologies Inc. stock. Previously, the target price had yet another raise to $14, while Citigroup analysts kept a Buy rating on MIR stock.
The Average True Range (ATR) for Mirion Technologies Inc. is set at 0.33, with the Price to Sales ratio for MIR stock in the period of the last 12 months amounting to 2.89. The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 0.35. Price to Free Cash Flow for MIR in the course of the last twelve months was 398.98 with Quick ratio for the last quarter at 1.40.
How has MIR stock performed recently?
Mirion Technologies Inc. [MIR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.54. With this latest performance, MIR shares gained by 14.52% in over the last four-week period, additionally plugging by 21.93% over the last 6 months – not to mention a rise of 3.82% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MIR stock in for the last two-week period is set at 67.97, with the RSI for the last a single of trading hit 68.04, and the three-weeks RSI is set at 67.20 for Mirion Technologies Inc. [MIR]. The present Moving Average for the last 50 days of trading for this stock 7.75, while it was recorded at 9.12 for the last single week of trading, and 7.16 for the last 200 days.
Mirion Technologies Inc. [MIR]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Mirion Technologies Inc. [MIR] shares currently have an operating margin of -10.66 and a Gross Margin at +25.29. Mirion Technologies Inc.’s Net Margin is presently recorded at -38.58.
Return on Equity for this stock declined to -17.91, with Return on Assets sitting at -9.34.
Mirion Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 2.00.
Insider trade positions for Mirion Technologies Inc. [MIR]
There are presently around $1,307 million, or 84.70% of MIR stock, in the hands of institutional investors. The top three institutional holders of MIR stocks are: GOLDMAN SACHS GROUP INC with ownership of 34,793,322, which is approximately -32.784% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 12,577,497 shares of the stock with an approximate value of $116.09 million in MIR stocks shares; and JANUS HENDERSON GROUP PLC, currently with $107.96 million in MIR stock with ownership of nearly -0.547% of the company’s market capitalization.
58 institutional holders increased their position in Mirion Technologies Inc. [NYSE:MIR] by around 18,016,896 shares. Additionally, 67 investors decreased positions by around 35,267,093 shares, while 19 investors held positions by with 88,352,627 shares. The mentioned changes placed institutional holdings at 141,636,616 shares, according to the latest SEC report filing. MIR stock had 21 new institutional investments in for a total of 13,374,356 shares, while 24 institutional investors sold positions of 8,969,395 shares during the same period.