MIND Technology (NASDAQ:MIND) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of MIND Technology (NASDAQ:MIND) from a hold rating to a sell rating in a research report released on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MIND Technology in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, MIND Technology presently has a consensus rating of “Hold”.

MIND Technology Price Performance

MIND Technology stock opened at $6.32 on Friday. The company has a market cap of $57.13 million, a PE ratio of 63.20 and a beta of 0.54. The company has a fifty day moving average price of $8.24 and a two-hundred day moving average price of $9.27. MIND Technology has a 12 month low of $4.90 and a 12 month high of $14.50.

MIND Technology (NASDAQ:MIND) last released its quarterly earnings data on Wednesday, April 15th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.34). The business had revenue of $9.80 million during the quarter, compared to analyst estimates of $14.65 million. MIND Technology had a return on equity of 2.36% and a net margin of 1.83%.During the same period in the prior year, the firm earned $0.25 EPS.

Hedge Funds Weigh In On MIND Technology

Several institutional investors have recently modified their holdings of MIND. Brighton Jones LLC bought a new position in shares of MIND Technology during the fourth quarter worth about $138,000. Geode Capital Management LLC grew its position in shares of 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 during the last quarter. Jump Financial LLC bought a new position in shares of MIND Technology during the second quarter worth about $239,000. Raymond James Financial Inc. bought a new position in shares of MIND Technology during the second quarter worth about $33,000. Finally, Evergreen Capital Management LLC bought a new position in shares of MIND Technology during the second quarter worth about $414,000. 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.