Zacks Research Downgrades MindWalk (NASDAQ:HYFT) to Strong Sell

MindWalk (NASDAQ:HYFT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on the company. JonesTrading assumed coverage on MindWalk in a report on Thursday, April 16th. They issued a “buy” rating and a $5.00 price target for the company. HC Wainwright reaffirmed a “buy” rating on shares of MindWalk in a report on Monday, July 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of MindWalk in a research report on Wednesday, July 15th. Finally, Wall Street Zen downgraded MindWalk from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.00.

MindWalk Stock Down 1.8%

NASDAQ HYFT opened at $1.33 on Tuesday. The stock has a market capitalization of $62.36 million, a PE ratio of -6.07 and a beta of 0.83. MindWalk has a 52-week low of $0.99 and a 52-week high of $3.25. The business’s 50-day moving average price is $1.56. The company has a quick ratio of 2.72, a current ratio of 2.80 and a debt-to-equity ratio of 0.26.

MindWalk (NASDAQ:HYFT) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). MindWalk had a negative net margin of 89.65% and a negative return on equity of 92.61%. The firm had revenue of $3.03 million during the quarter. On average, equities research analysts expect that MindWalk will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC raised its stake in shares of MindWalk by 147.3% during the 4th quarter. Jane Street Group LLC now owns 161,202 shares of the company’s stock worth $293,000 after buying an additional 96,018 shares during the last quarter. Bridgeway Capital Management LLC acquired a new stake in MindWalk in the 4th quarter valued at about $91,000. XTX Topco Ltd grew its stake in MindWalk by 118.6% in the 4th quarter. XTX Topco Ltd now owns 81,721 shares of the company’s stock valued at $149,000 after acquiring an additional 44,331 shares during the last quarter. Virtu Financial LLC purchased a new position in MindWalk during the 4th quarter valued at about $51,000. Finally, Bank of Montreal Can increased its holdings in MindWalk by 81.0% during the 4th quarter. Bank of Montreal Can now owns 54,750 shares of the company’s stock valued at $100,000 after acquiring an additional 24,500 shares in the last quarter. Hedge funds and other institutional investors own 6.70% of the company’s stock.

MindWalk Company Profile

ImmunoPrecise Antibodies Ltd., together with its subsidiaries, engages in antibody production and related services in the United States, Canada, Europe, and internationally. The company offers a range of antibodies, enzymes, enzyme activity assays, arthritis animal products, proteins, deiminated proteins, organoid growth factors, and hybridoma products for research purposes. Its services include custom antigen modeling, design, and manufacturing; B cell sorting, screening, and sequencing; custom, immune, and naive phage display production and screening; transgenic animals and multi-species antibody discovery; bi-specific, tri-specific, VHH, and VNAR (shark) antibody manufacturing; DNA cloning, protein and antibody downstream processing; antibody characterization on label-free biosensors and antibody engineering; transient and stable cell line generation; antibody optimization and humanization; hybridoma production with multiplexed, high-throughput screening, and clone-picking; and cryopreservation.