MIND Technology (NASDAQ:MIND) Issues Quarterly Earnings Results

MIND Technology (NASDAQ:MIND) issued its quarterly earnings data on Wednesday. The company reported ($0.05) earnings per share for the quarter, Zacks reports. The business had revenue of $9.67 million for the quarter. MIND Technology had a net margin of 3.06% and a return on equity of 3.56%.

MIND Technology Stock Down 5.4%

NASDAQ:MIND opened at $5.26 on Friday. MIND Technology has a 12 month low of $4.84 and a 12 month high of $14.50. The firm has a market cap of $47.81 million, a price-to-earnings ratio of 30.94 and a beta of 0.32. The company’s 50 day moving average is $6.96 and its 200-day moving average is $8.17.

Institutional Investors Weigh In On MIND Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of MIND Technology by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 90,429 shares of the company’s stock worth $795,000 after acquiring an additional 1,228 shares during the last quarter. LPL Financial LLC grew its stake in shares of MIND Technology by 8.1% in the fourth quarter. LPL Financial LLC now owns 19,736 shares of the company’s stock worth $173,000 after acquiring an additional 1,472 shares during the last quarter. Pinnacle Holdings LLC grew its stake in shares of MIND Technology by 52.6% in the fourth quarter. Pinnacle Holdings LLC now owns 5,280 shares of the company’s stock worth $46,000 after acquiring an additional 1,820 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of MIND Technology in the second quarter worth $33,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of MIND Technology in the fourth quarter worth $106,000. Institutional investors and hedge funds own 9.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MIND. Weiss Ratings lowered shares of MIND Technology from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, April 24th. Wall Street Zen lowered shares of MIND Technology from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, MIND Technology 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.