MIND Technology (NASDAQ:MIND) Stock Price Up 4% – Here’s Why

MIND Technology, Inc. (NASDAQ:MIND) shares were up 4% on Monday . The company traded as high as $5.47 and last traded at $4.92. Approximately 219,308 shares were traded during trading, an increase of 170% from the average daily volume of 81,232 shares. The stock had previously closed at $4.73.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MIND shares. Weiss Ratings lowered shares of MIND Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. Wall Street Zen upgraded shares of MIND Technology from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

MIND Technology Trading Up 4.0%

The company has a 50 day moving average of $5.13 and a 200 day moving average of $6.78. The firm has a market cap of $44.72 million, a price-to-earnings ratio of 28.94 and a beta of 0.38.

MIND Technology (NASDAQ:MIND) last issued its quarterly earnings data on Wednesday, June 10th. The company reported ($0.05) earnings per share (EPS) for the quarter. MIND Technology had a net margin of 3.06% and a return on equity of 3.45%. The company had revenue of $9.67 million for the quarter.

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. Pinnacle Holdings LLC bought a new position in shares of MIND Technology in the second quarter valued at about $25,000. Hazlett Burt & Watson Inc. bought a new position in shares of MIND Technology in the 4th quarter valued at about $27,000. Raymond James Financial Inc. bought a new position in shares of MIND Technology in the 2nd quarter valued at about $33,000. Royal Bank of Canada grew its position in shares of MIND Technology by 209.8% during 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 period. Finally, Cetera Investment Advisers acquired a new stake in shares of MIND Technology during the 1st quarter worth approximately $87,000. 9.83% of the stock is owned by institutional investors and hedge funds.

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.