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

Wall Street Zen downgraded shares of MIND Technology (NASDAQ:MIND) from a strong-buy rating to a buy rating in a research note released on Sunday morning.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of MIND Technology in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

MIND Technology Trading Down 4.2%

MIND opened at $9.52 on Friday. The stock has a market capitalization of $75.86 million, a P/E ratio of 2.94 and a beta of 0.59. The stock has a 50-day moving average price of $10.27 and a 200-day moving average price of $8.99. MIND Technology has a 12-month low of $3.75 and a 12-month high of $14.50.

MIND Technology (NASDAQ:MIND) last released its earnings results on Tuesday, September 9th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $13.56 million during the quarter, compared to the consensus estimate of $12.64 million. MIND Technology had a return on equity of 15.85% and a net margin of 8.81%.During the same quarter in the previous year, the company posted ($0.11) EPS.

Institutional Investors Weigh In On MIND Technology

Several institutional investors have recently added to or reduced their stakes in the company. Pinnacle Holdings LLC purchased a new position in shares of MIND Technology in the third quarter valued at about $28,000. Raymond James Financial Inc. purchased a new stake in shares of MIND Technology during the second quarter worth about $33,000. Evernest Financial Advisors LLC bought a new stake in shares of MIND Technology in the second quarter worth about $127,000. ARS Wealth Advisors Group LLC purchased a new position in MIND Technology during the 2nd quarter valued at about $127,000. Finally, Brighton Jones LLC bought a new position in MIND Technology during the 4th quarter valued at approximately $138,000. 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.