MindWalk (NASDAQ:HYFT) Trading Down 3% – Time to Sell?

Shares of MindWalk Holdings Corp. (NASDAQ:HYFT) traded down 3% during mid-day trading on Wednesday . The stock traded as low as $1.60 and last traded at $1.61. 997,108 shares were traded during mid-day trading, an increase of 80% from the average session volume of 552,848 shares. The stock had previously closed at $1.66.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group reaffirmed a “buy” rating on shares of MindWalk in a research report on Friday, March 13th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of MindWalk in a research report on Tuesday, May 19th. JonesTrading assumed coverage on MindWalk in a research report on Thursday, April 16th. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, Zacks Research raised MindWalk from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, MindWalk presently has an average rating of “Moderate Buy” and an average target price of $5.00.

MindWalk Stock Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.64 and a current ratio of 3.74. The business’s 50 day simple moving average is $1.39.

MindWalk (NASDAQ:HYFT) last announced its earnings results on Thursday, March 12th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $3.50 million. MindWalk had a negative net margin of 66.79% and a negative return on equity of 69.37%. As a group, equities research analysts predict that MindWalk Holdings Corp. will post -0.23 earnings per share for the current year.

Institutional Investors Weigh In On MindWalk

A number of hedge funds have recently added to or reduced their stakes in HYFT. Jane Street Group LLC raised its stake in MindWalk by 147.3% during the 4th quarter. Jane Street Group LLC now owns 161,202 shares of the company’s stock valued at $293,000 after buying an additional 96,018 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in MindWalk during the 4th quarter valued at $91,000. XTX Topco Ltd raised its stake in MindWalk by 118.6% during the 4th quarter. XTX Topco Ltd now owns 81,721 shares of the company’s stock valued at $149,000 after buying an additional 44,331 shares during the last quarter. Virtu Financial LLC purchased a new stake in MindWalk during the 4th quarter valued at $51,000. Finally, Bank of Montreal Can increased its stake in shares of MindWalk by 81.0% in the 4th quarter. Bank of Montreal Can now owns 54,750 shares of the company’s stock worth $100,000 after purchasing an additional 24,500 shares in the last quarter. 6.70% of the stock is currently owned by hedge funds and other institutional investors.

About MindWalk

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.