Short Interest in MIND Technology, Inc. (NASDAQ:MIND) Expands By 38.6%

MIND Technology, Inc. (NASDAQ:MIND) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 935,558 shares, a growth of 38.6% from the November 30th total of 675,186 shares. Based on an average daily trading volume, of 338,003 shares, the short-interest ratio is presently 2.8 days. Approximately 10.6% of the company’s shares are short sold. Approximately 10.6% of the company’s shares are short sold. Based on an average daily trading volume, of 338,003 shares, the short-interest ratio is presently 2.8 days.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MIND. Wall Street Zen lowered MIND Technology from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MIND Technology in a research note on Wednesday, December 24th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Institutional Investors Weigh In On MIND Technology

Several hedge funds have recently modified their holdings of the business. Pinnacle Holdings LLC bought a new position in shares of MIND Technology during the third quarter valued at approximately $28,000. Raymond James Financial Inc. purchased a new stake in MIND Technology during the second quarter worth $33,000. Evernest Financial Advisors LLC purchased a new stake in MIND Technology during the second quarter worth $127,000. ARS Wealth Advisors Group LLC bought a new stake in MIND Technology during the 2nd quarter valued at $127,000. Finally, Brighton Jones LLC purchased a new position in shares of MIND Technology in the 4th quarter valued at $138,000. Hedge funds and other institutional investors own 9.83% of the company’s stock.

MIND Technology Stock Performance

NASDAQ MIND traded down $0.35 on Tuesday, reaching $8.72. 176,407 shares of the stock traded hands, compared to its average volume of 264,832. MIND Technology has a 12 month low of $4.45 and a 12 month high of $14.50. The company has a market cap of $78.83 million, a price-to-earnings ratio of 22.95 and a beta of 0.57. The company has a fifty day moving average price of $10.16 and a 200-day moving average price of $9.32.

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

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.