MIND Technology (NASDAQ:MIND) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of MIND Technology (NASDAQ:MIND) from a hold rating to a strong sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of MIND Technology in a research report on Tuesday, September 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

MIND Technology Stock Up 6.6%

Shares of MIND opened at $4.18 on Friday. The firm has a fifty day simple moving average of $4.83 and a two-hundred day simple moving average of $6.20. MIND Technology has a twelve month low of $3.63 and a twelve month high of $14.50. The stock has a market capitalization of $38.00 million, a P/E ratio of -16.08 and a beta of 0.36.

MIND Technology (NASDAQ:MIND) last issued its quarterly earnings data on Tuesday, September 8th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.11). MIND Technology had a negative net margin of 6.77% and a negative return on equity of 5.77%. The firm had revenue of $5.62 million for the quarter, compared to the consensus estimate of $7.68 million.

Institutional Investors Weigh In On MIND Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers bought a new position in shares of MIND Technology during the first quarter valued at approximately $87,000. Pinnacle Holdings LLC bought a new stake in shares of MIND Technology in the 2nd quarter worth approximately $25,000. Royal Bank of Canada grew its stake in shares of MIND Technology by 209.8% in the 1st quarter. Royal Bank of Canada now owns 6,490 shares of the company’s stock worth $54,000 after buying an additional 4,395 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. purchased a new stake in shares of MIND Technology in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 9.83% of the company’s stock.

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.