MIND Technology (NASDAQ:MIND) Stock Price Down 4.1% – What’s Next?

Shares of MIND Technology, Inc. (NASDAQ:MIND) were down 4.1% on Tuesday . The stock traded as low as $4.67 and last traded at $4.71. Approximately 89,907 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 112,548 shares. The stock had previously closed at $4.91.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of MIND Technology from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings cut shares of MIND Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, MIND Technology presently has a consensus rating of “Sell”.

MIND Technology Trading Down 4.1%

The stock has a 50 day simple moving average of $6.02 and a 200-day simple moving average of $7.64. The firm has a market cap of $42.81 million, a P/E ratio of 27.71 and a beta of 0.38.

MIND Technology (NASDAQ:MIND) last posted its earnings results on Wednesday, June 10th. The company reported ($0.05) EPS for the quarter. The firm had revenue of $9.67 million for the quarter. MIND Technology had a net margin of 3.06% and a return on equity of 3.45%.

Institutional Investors Weigh In On MIND Technology

A number of hedge funds have recently bought and sold shares of the business. Brighton Jones LLC bought a new stake in shares of MIND Technology in the 4th quarter valued at approximately $138,000. Arkadios Wealth Advisors purchased a new stake in MIND Technology during the 4th quarter valued at $106,000. HRT Financial LP purchased a new stake in MIND Technology during the 4th quarter valued at $277,000. Cerity Partners LLC bought a new stake in MIND Technology in the fourth quarter worth $218,000. Finally, LPL Financial LLC boosted its stake in MIND Technology by 8.1% during the fourth quarter. LPL Financial LLC now owns 19,736 shares of the company’s stock worth $173,000 after buying an additional 1,472 shares during the period. Hedge funds and other institutional investors own 9.83% of the company’s stock.

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.