MIND Technology (NASDAQ:MIND) Shares Up 9.5% – Still a Buy?

MIND Technology, Inc. (NASDAQ:MIND)’s share price rose 9.5% on Tuesday . The company traded as high as $8.88 and last traded at $8.68. Approximately 557,798 shares traded hands during trading, an increase of 413% from the average daily volume of 108,691 shares. The stock had previously closed at $7.93.

Analyst Ratings Changes

A number of equities analysts recently commented on MIND shares. Weiss Ratings reissued a “hold (c)” rating on shares of MIND Technology in a research note on Wednesday, December 24th. Wall Street Zen downgraded MIND Technology from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

MIND Technology Stock Performance

The business’s fifty day moving average price is $8.85 and its two-hundred day moving average price is $9.42. The stock has a market capitalization of $78.47 million, a P/E ratio of 22.84 and a beta of 0.58.

MIND Technology (NASDAQ:MIND) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.15). MIND Technology had a net margin of 6.61% and a return on equity of 9.95%. The business had revenue of $9.69 million during the quarter, compared to the consensus estimate of $10.90 million.

Hedge Funds Weigh In On MIND Technology

A number of institutional investors and hedge funds have recently modified their holdings of MIND. Marshall Wace LLP bought a new position in shares of MIND Technology during the 4th quarter valued at approximately $125,000. Arkadios Wealth Advisors bought a new stake in MIND Technology in the fourth quarter worth $106,000. Jane Street Group LLC lifted its position in MIND Technology by 71.1% in the fourth quarter. Jane Street Group LLC now owns 32,190 shares of the company’s stock worth $283,000 after buying an additional 13,372 shares during the last quarter. HRT Financial LP purchased a new position in MIND Technology during the fourth quarter worth $277,000. Finally, Commonwealth Equity Services LLC purchased a new position in MIND Technology during the fourth quarter worth $482,000. Hedge funds and other institutional investors own 9.83% of the company’s stock.

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.