MIND Technology (NASDAQ:MIND) Posts Earnings Results

MIND Technology (NASDAQ:MIND) posted its quarterly earnings results on Wednesday. The company reported ($0.05) earnings per share for the quarter, Zacks reports. MIND Technology had a net margin of 1.83% and a return on equity of 2.19%.

MIND Technology Stock Down 5.8%

MIND Technology stock traded down $0.34 during mid-day trading on Wednesday, hitting $5.56. 249,015 shares of the company’s stock were exchanged, compared to its average volume of 166,802. The firm has a market capitalization of $50.54 million, a P/E ratio of 55.60 and a beta of 0.32. MIND Technology has a fifty-two week low of $5.51 and a fifty-two week high of $14.50. The company’s 50 day simple moving average is $7.07 and its 200-day simple moving average is $8.22.

Institutional Trading of MIND Technology

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in MIND Technology by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 90,429 shares of the company’s stock worth $795,000 after buying an additional 1,228 shares during the period. LPL Financial LLC raised its stake in MIND Technology by 8.1% during the 4th quarter. LPL Financial LLC now owns 19,736 shares of the company’s stock worth $173,000 after buying an additional 1,472 shares during the period. Pinnacle Holdings LLC raised its stake in MIND Technology by 52.6% during the 4th quarter. Pinnacle Holdings LLC now owns 5,280 shares of the company’s stock worth $46,000 after buying an additional 1,820 shares during the period. Raymond James Financial Inc. acquired a new stake in MIND Technology during the 2nd quarter worth $33,000. Finally, Arkadios Wealth Advisors acquired a new stake in MIND Technology during the 4th quarter worth $106,000. Institutional investors and hedge funds own 9.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded MIND Technology from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Weiss Ratings downgraded MIND Technology from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, MIND Technology has an average rating of “Hold”.

MIND Technology Company Profile

MIND Technology, Inc, together with its subsidiaries, provides technology to the oceanographic, hydrographic, defense, seismic, and maritime security industries worldwide. Its primary products include the GunLink seismic source acquisition and control systems that provide operators of marine seismic surveys with precise monitoring and control of energy sources; the BuoyLink RGPS tracking system, which is used to offer precise positioning of marine seismic energy sources and streamers; Sleeve Gun energy sources; SeaLink towed seismic streamer system; and Sea Serpent line of passive sonar arrays for maritime security and anti-submarine warfare applications.