MIND Technology (NASDAQ:MIND) Issues Quarterly Earnings Results

MIND Technology (NASDAQ:MIND) released its quarterly earnings data on Tuesday. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.11), Zacks reports. MIND Technology had a net margin of 3.06% and a return on equity of 3.45%.

MIND Technology Stock Performance

Shares of NASDAQ:MIND traded down $0.37 during trading on Tuesday, reaching $4.20. The stock had a trading volume of 263,569 shares, compared to its average volume of 142,021. The business has a fifty day moving average price of $4.91 and a 200-day moving average price of $6.35. The stock has a market cap of $38.17 million, a PE ratio of 24.71 and a beta of 0.36. MIND Technology has a 1-year low of $4.20 and a 1-year high of $14.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MIND. Raymond James Financial Inc. purchased a new stake in shares of MIND Technology during the second quarter worth $33,000. Pinnacle Holdings LLC lifted 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 buying an additional 1,820 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in shares of MIND Technology in the fourth quarter worth about $106,000. Marshall Wace LLP acquired a new position in MIND Technology during the fourth quarter worth about $125,000. Finally, Brighton Jones LLC purchased a new stake in MIND Technology during the 4th quarter valued at about $138,000. Hedge funds and other institutional investors own 9.83% of the company’s stock.

Wall Street Analyst Weigh In

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

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.