MIND Technology, Inc. (NASDAQ:MIND) Short Interest Update

MIND Technology, Inc. (NASDAQ:MIND) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 334,900 shares, a growth of 59.8% from the February 13th total of 209,600 shares. Currently, 4.3% of the shares of the company are short sold. Based on an average daily trading volume, of 440,700 shares, the days-to-cover ratio is presently 0.8 days.

Hedge Funds Weigh In On MIND Technology

A number of hedge funds have recently made changes to their positions in the business. IFP Advisors Inc bought a new stake in MIND Technology in the 4th quarter valued at $32,000. Virtu Financial LLC bought a new stake in shares of MIND Technology in the third quarter worth about $43,000. XTX Topco Ltd bought a new stake in shares of MIND Technology in the fourth quarter worth about $114,000. Brighton Jones LLC purchased a new stake in shares of MIND Technology in the fourth quarter worth about $138,000. Finally, Squarepoint Ops LLC purchased a new position in MIND Technology during the 4th quarter valued at approximately $146,000. Institutional investors own 9.83% of the company’s stock.

MIND Technology Trading Down 7.8 %

MIND Technology stock traded down $0.56 during mid-day trading on Monday, hitting $6.67. The stock had a trading volume of 70,100 shares, compared to its average volume of 156,372. MIND Technology has a one year low of $3.05 and a one year high of $11.10. The firm has a market capitalization of $9.37 million, a P/E ratio of 2.14 and a beta of 0.94. The firm’s 50 day moving average is $8.32 and its 200 day moving average is $5.80.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of MIND Technology from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th.

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.