Mirion Technologies, Inc. (NYSE:MIR) Sees Significant Decrease in Short Interest

Mirion Technologies, Inc. (NYSE:MIR) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totaling 18,857,131 shares, a drop of 15.2% from the December 31st total of 22,238,139 shares. Approximately 7.6% of the shares of the stock are sold short. Based on an average daily volume of 2,635,988 shares, the days-to-cover ratio is presently 7.2 days. Based on an average daily volume of 2,635,988 shares, the days-to-cover ratio is presently 7.2 days. Approximately 7.6% of the shares of the stock are sold short.

Insider Buying and Selling at Mirion Technologies

In related news, Director Lawrence D. Kingsley sold 350,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $24.73, for a total value of $8,655,500.00. Following the transaction, the director owned 3,509,075 shares in the company, valued at $86,779,424.75. The trade was a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Trading of Mirion Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Mirion Technologies by 28.0% in the third quarter. Vanguard Group Inc. now owns 30,418,327 shares of the company’s stock valued at $707,530,000 after acquiring an additional 6,651,735 shares in the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Mirion Technologies by 174,900.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 17,500,000 shares of the company’s stock valued at $407,050,000 after acquiring an additional 17,490,000 shares during the last quarter. Cooperman Leon G raised its position in shares of Mirion Technologies by 17.7% during the 3rd quarter. Cooperman Leon G now owns 8,383,441 shares of the company’s stock valued at $194,999,000 after acquiring an additional 1,258,441 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Mirion Technologies by 40.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,391,772 shares of the company’s stock worth $125,413,000 after purchasing an additional 1,558,104 shares during the period. Finally, UBS Group AG increased its stake in Mirion Technologies by 1.2% during the fourth quarter. UBS Group AG now owns 4,852,587 shares of the company’s stock valued at $113,648,000 after purchasing an additional 55,754 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MIR. JPMorgan Chase & Co. boosted their price objective on shares of Mirion Technologies from $28.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Evercore ISI began coverage on Mirion Technologies in a report on Tuesday, November 25th. They set an “outperform” rating and a $29.00 target price for the company. Morgan Stanley began coverage on Mirion Technologies in a research note on Friday, January 23rd. They issued an “equal weight” rating and a $29.00 price target on the stock. Citigroup reduced their price target on Mirion Technologies from $35.00 to $33.00 and set a “buy” rating for the company in a report on Monday, December 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Mirion Technologies in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Mirion Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.38.

Mirion Technologies Trading Down 3.0%

Shares of Mirion Technologies stock traded down $0.76 on Wednesday, reaching $24.67. The company had a trading volume of 815,770 shares, compared to its average volume of 2,377,284. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 223.87 and a beta of 0.97. The firm’s 50-day moving average price is $25.07 and its two-hundred day moving average price is $23.90. Mirion Technologies has a 1 year low of $12.00 and a 1 year high of $30.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.83 and a quick ratio of 4.32.

About Mirion Technologies

Mirion Technologies Inc (NYSE: MIR) is a leading global provider of radiation detection, measurement and monitoring solutions. The company’s portfolio includes instrumentation, software and service offerings designed to detect, quantify and manage radiation in nuclear power, oil and gas, defense and homeland security, medical imaging and diagnostic applications. Mirion’s product suite spans personal and environmental dosimetry, area monitors, digital imaging detectors and turnkey solutions for decommissioning and environmental remediation projects.

Mirion traces its origins to the combination of several established radiation measurement businesses, including the former Canberra nuclear instrumentation division, and has been supported by private equity investors before completing its initial public offering on the New York Stock Exchange in 2023.