Miami International (NYSE:MIAX) Shares Gap Down – Time to Sell?

Miami International Holdings, Inc. (NYSE:MIAX) shares gapped down prior to trading on Friday . The stock had previously closed at $45.68, but opened at $44.44. Miami International shares last traded at $44.2050, with a volume of 12,455 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MIAX. William Blair began coverage on shares of Miami International in a research note on Monday, September 8th. They issued an “outperform” rating for the company. Piper Sandler lifted their price target on Miami International from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Raymond James Financial assumed coverage on Miami International in a research note on Monday, September 8th. They set a “market perform” rating for the company. JPMorgan Chase & Co. raised their price objective on Miami International from $32.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Miami International in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.20.

Miami International Price Performance

The company has a 50-day simple moving average of $45.36.

Miami International (NYSE:MIAX) last announced its earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. During the same period in the previous year, the company earned $0.11 EPS. The business’s revenue was up 57.4% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MIAX. National Bank of Canada FI acquired a new stake in shares of Miami International during the third quarter worth $29,000. Emerald Mutual Fund Advisers Trust purchased a new position in Miami International in the 3rd quarter worth $101,000. Texas Yale Capital Corp. acquired a new stake in Miami International during the 3rd quarter worth about $201,000. Sandia Investment Management LP purchased a new stake in Miami International during the 3rd quarter valued at about $266,000. Finally, Limestone Investment Advisors LP acquired a new position in shares of Miami International in the third quarter valued at about $278,000.

About Miami International

Miami International (NYSE:MIAX) is a U.S. exchange holding company that operates electronic trading venues and provides market infrastructure for listed options and related products. Its primary business activities include operating regulated exchanges, delivering market data feeds, and offering trading technology and connectivity services designed for professional traders, broker-dealers, and market makers. The company focuses on low-latency execution, order matching, and the operational controls required to support high-volume, automated trading strategies in listed derivatives.

Products and services provided by Miami International include fully electronic order matching engines, transmittable market data and feed products, colocation and connectivity solutions, and tools for risk management and regulatory compliance.