MIND Technology, Inc. (NASDAQ:MIND) Sees Significant Decrease in Short Interest

MIND Technology, Inc. (NASDAQ:MIND) was the target of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 659,983 shares, a decrease of 13.5% from the January 15th total of 763,224 shares. Currently, 7.5% of the company’s stock are short sold. Based on an average trading volume of 176,426 shares, the short-interest ratio is currently 3.7 days. Based on an average trading volume of 176,426 shares, the short-interest ratio is currently 3.7 days. Currently, 7.5% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wall Street Zen downgraded MIND Technology from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MIND Technology in a research report on Wednesday, December 24th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, MIND Technology has an average rating of “Hold”.

Institutional Trading of MIND Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC bought a new stake in shares of MIND Technology during the 4th quarter worth approximately $138,000. Geode Capital Management LLC increased its holdings in MIND Technology by 1.7% during the second quarter. Geode Capital Management LLC now owns 89,550 shares of the company’s stock worth $756,000 after buying an additional 1,518 shares during the last quarter. Corsair Capital Management L.P. bought a new stake in MIND Technology during the second quarter worth $275,000. Quadrature Capital Ltd acquired a new stake in MIND Technology in the second quarter valued at $285,000. Finally, Jump Financial LLC bought a new position in shares of MIND Technology in the 2nd quarter valued at about $239,000. Institutional investors own 9.83% of the company’s stock.

MIND Technology Stock Down 0.1%

NASDAQ MIND traded down $0.01 on Tuesday, reaching $8.49. The company had a trading volume of 53,747 shares, compared to its average volume of 183,069. The stock has a market cap of $76.74 million, a price-to-earnings ratio of 22.19 and a beta of 0.58. The stock’s 50 day moving average is $9.03 and its 200-day moving average is $9.65. MIND Technology has a 52 week low of $4.45 and a 52 week high of $14.50.

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

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.