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

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

Hedge Funds Weigh In On MIND Technology

Several large investors have recently modified their holdings of the business. Brighton Jones LLC bought a new stake in shares of MIND Technology in the fourth quarter worth $138,000. Geode Capital Management LLC boosted its stake 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 acquiring an additional 1,518 shares in the last quarter. Corsair Capital Management L.P. acquired a new stake in shares of MIND Technology in the 2nd quarter valued at about $275,000. Quadrature Capital Ltd bought a new stake in shares of MIND Technology during the second quarter valued at approximately $285,000. Finally, Jump Financial LLC bought a new position in shares of MIND Technology in the second quarter valued at $239,000. Institutional investors own 9.83% of the company’s stock.

MIND Technology Stock Performance

Shares of NASDAQ MIND traded down $0.01 during trading hours on Tuesday, hitting $8.49. 53,747 shares of the stock were exchanged, compared to its average volume of 183,069. MIND Technology has a 1-year low of $4.45 and a 1-year high of $14.50. The company has a market cap of $76.74 million, a PE ratio of 22.19 and a beta of 0.58. The company’s fifty day simple moving average is $9.03 and its two-hundred day simple moving average is $9.65.

MIND Technology (NASDAQ:MIND) last issued its 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). MIND Technology had a net margin of 6.61% and a return on equity of 9.95%. The company had revenue of $9.69 million during the quarter, compared to analyst estimates of $10.90 million.

Analyst Ratings Changes

A number of research firms recently 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 report on Saturday, December 13th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.