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

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

A number of other equities analysts also recently weighed in on the stock. JonesTrading initiated coverage on shares of MindWalk in a research note on Thursday, April 16th. They set a “buy” rating and a $5.00 target price for the company. Wall Street Zen cut MindWalk from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Weiss Ratings restated a “sell (e+)” rating on shares of MindWalk in a research note on Wednesday, July 15th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of MindWalk in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, MindWalk presently has a consensus rating of “Hold” and an average price target of $5.00.

MindWalk Price Performance

NASDAQ:HYFT opened at $1.33 on Tuesday. The company has a quick ratio of 2.72, a current ratio of 2.80 and a debt-to-equity ratio of 0.26. The stock has a 50-day simple moving average of $1.56. The stock has a market cap of $62.36 million, a P/E ratio of -6.07 and a beta of 0.83. MindWalk has a 1-year low of $0.99 and a 1-year high of $3.25.

MindWalk (NASDAQ:HYFT) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.06) earnings per share (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 business had revenue of $3.03 million for the quarter. Equities analysts anticipate that MindWalk will post -0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On MindWalk

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in MindWalk by 8.4% in the 4th quarter. Renaissance Technologies LLC now owns 239,080 shares of the company’s stock worth $435,000 after acquiring an additional 18,600 shares during the last quarter. Jane Street Group LLC boosted 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 purchasing an additional 96,018 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of MindWalk by 118.6% in the 4th quarter. XTX Topco Ltd now owns 81,721 shares of the company’s stock worth $149,000 after purchasing an additional 44,331 shares in the last quarter. Bank of Montreal Can increased its holdings 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. Finally, Bridgeway Capital Management LLC purchased a new position in shares of MindWalk in the fourth quarter worth $91,000. 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.