MIND Technology (NASDAQ:MIND) Trading 4% Higher – Here’s Why

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MIND shares. Weiss Ratings downgraded MIND Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. Wall Street Zen raised MIND Technology from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

MIND Technology Price Performance

The company has a market capitalization of $44.72 million, a P/E ratio of 28.94 and a beta of 0.38. The business’s 50-day moving average price is $5.13 and its two-hundred day moving average price is $6.78.

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

Hedge Funds Weigh In On MIND Technology

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of MIND Technology by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 90,429 shares of the company’s stock valued at $795,000 after purchasing an additional 1,228 shares during the period. Commonwealth Equity Services LLC acquired a new stake in MIND Technology during the 4th quarter worth approximately $482,000. Evergreen Capital Management LLC acquired a new stake in MIND Technology during the 2nd quarter worth approximately $414,000. Citadel Advisors LLC bought a new position in MIND Technology in the third quarter valued at approximately $340,000. Finally, Jane Street Group LLC lifted its stake in 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 buying an additional 13,372 shares in the last quarter. 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.