MindWalk (NASDAQ:HYFT) Trading Down 3% – Here’s What Happened

MindWalk Holdings Corp. (NASDAQ:HYFT) dropped 3% on Wednesday . The company traded as low as $1.60 and last traded at $1.61. Approximately 997,108 shares changed hands during trading, an increase of 80% from the average daily volume of 552,848 shares. The stock had previously closed at $1.66.

Wall Street Analyst Weigh In

HYFT has been the topic of a number of recent research reports. JonesTrading initiated coverage on MindWalk in a research note on Thursday, April 16th. They set a “buy” rating and a $5.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of MindWalk in a research note on Tuesday, May 19th. Zacks Research raised MindWalk from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Finally, UBS Group reissued a “buy” rating on shares of MindWalk in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MindWalk has an average rating of “Moderate Buy” and an average price target of $5.00.

MindWalk Price 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 company has a market capitalization of $74.32 million, a P/E ratio of -8.05 and a beta of 0.79. The business has a 50 day simple moving average of $1.37.

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

Institutional Investors Weigh In On MindWalk

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in MindWalk in the fourth quarter valued at $51,000. Bridgeway Capital Management LLC purchased a new stake in MindWalk in the fourth quarter valued at $91,000. Bank of Montreal Can raised its position in MindWalk by 81.0% in the fourth quarter. Bank of Montreal Can now owns 54,750 shares of the company’s stock valued at $100,000 after purchasing an additional 24,500 shares during the period. XTX Topco Ltd raised its position in MindWalk by 118.6% in the fourth quarter. XTX Topco Ltd now owns 81,721 shares of the company’s stock valued at $149,000 after purchasing an additional 44,331 shares during the period. Finally, Jane Street Group LLC raised its position in MindWalk by 147.3% in the fourth quarter. Jane Street Group LLC now owns 161,202 shares of the company’s stock valued at $293,000 after purchasing an additional 96,018 shares during the period. 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.