MIND Technology (NASDAQ:MIND) Announces Earnings Results

MIND Technology (NASDAQ:MIND) posted its earnings results on Tuesday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.11), Zacks reports. MIND Technology had a net margin of 3.06% and a return on equity of 3.45%.

MIND Technology Stock Performance

Shares of MIND stock traded down $0.37 during mid-day trading on Tuesday, hitting $4.20. 293,335 shares of the stock traded hands, compared to its average volume of 142,481. MIND Technology has a twelve month low of $4.20 and a twelve month high of $14.50. The firm has a market cap of $38.17 million, a price-to-earnings ratio of 24.71 and a beta of 0.36. The company’s 50-day simple moving average is $4.91 and its 200-day simple moving average is $6.35.

Analysts Set New Price Targets

Several analysts recently issued reports on MIND shares. Weiss Ratings downgraded MIND Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. Wall Street Zen raised MIND Technology from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, MIND Technology presently has a consensus rating of “Sell”.

Institutional Trading of MIND Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of MIND Technology by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 90,429 shares of the company’s stock valued at $795,000 after acquiring an additional 1,228 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in MIND Technology in the 4th quarter worth approximately $482,000. Evergreen Capital Management LLC purchased a new position in MIND Technology during the 2nd quarter worth approximately $414,000. Citadel Advisors LLC acquired a new stake in MIND Technology during the 3rd quarter valued at $340,000. Finally, Jane Street Group LLC lifted its holdings in shares of MIND Technology by 71.1% in the fourth quarter. Jane Street Group LLC now owns 32,190 shares of the company’s stock valued at $283,000 after purchasing an additional 13,372 shares in the last quarter. 9.83% of the stock is owned by institutional investors and hedge funds.

About MIND Technology

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.