MIND Technology (NASDAQ:MIND) Shares Down 0.7% – What’s Next?

MIND Technology, Inc. (NASDAQ:MIND) shares dropped 0.7% during mid-day trading on Monday . The company traded as low as $8.11 and last traded at $8.69. Approximately 186,026 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 197,333 shares. The stock had previously closed at $8.75.

Analyst Ratings Changes

A number of research firms have weighed in on MIND. Weiss Ratings reissued a “hold (c)” rating on shares of MIND Technology in a report on Wednesday, December 24th. Wall Street Zen downgraded shares of MIND Technology from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

MIND Technology Stock Down 0.7%

The firm has a market capitalization of $78.56 million, a price-to-earnings ratio of 22.87 and a beta of 0.58. The company has a fifty day moving average price of $9.27 and a two-hundred day moving average price of $9.65.

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

Institutional Trading of MIND Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in MIND. Evergreen Capital Management LLC purchased a new position in shares of MIND Technology in the 2nd quarter valued at approximately $414,000. Citadel Advisors LLC acquired a new stake in shares of MIND Technology during the third quarter worth $340,000. Quadrature Capital Ltd purchased a new position in MIND Technology in the 2nd quarter valued at $285,000. Corsair Capital Management L.P. acquired a new position in MIND Technology in the 2nd quarter valued at $275,000. Finally, Jump Financial LLC acquired a new position in MIND Technology in the 2nd quarter valued at $239,000. 9.83% of the stock is owned by hedge funds and other institutional investors.

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.