Short Interest in MIND Technology, Inc. (NASDAQ:MIND) Increases By 59.8%

MIND Technology, Inc. (NASDAQ:MIND) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 334,900 shares, a growth of 59.8% from the February 13th total of 209,600 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average daily trading volume, of 440,700 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of MIND Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th.

MIND Technology Price Performance

MIND Technology stock traded up $0.26 during trading hours on Friday, hitting $7.23. The company had a trading volume of 168,568 shares, compared to its average volume of 156,681. MIND Technology has a fifty-two week low of $3.05 and a fifty-two week high of $11.10. The firm has a market capitalization of $10.17 million, a P/E ratio of 2.32 and a beta of 0.94. The firm’s fifty day moving average is $8.32 and its 200-day moving average is $5.79.

Hedge Funds Weigh In On MIND Technology

A number of hedge funds have recently added to or reduced their stakes in MIND. Marshall Wace LLP bought a new stake in MIND Technology in the fourth quarter worth $825,000. Geode Capital Management LLC grew its stake in MIND Technology by 416.5% in the 4th quarter. Geode Capital Management LLC now owns 86,247 shares of the company’s stock valued at $685,000 after buying an additional 69,550 shares during the last quarter. Renaissance Technologies LLC lifted its position in MIND Technology by 112.0% during the 4th quarter. Renaissance Technologies LLC now owns 124,340 shares of the company’s stock worth $987,000 after acquiring an additional 65,700 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in MIND Technology during the fourth quarter valued at about $458,000. Finally, Citadel Advisors LLC bought a new position in shares of MIND Technology in the fourth quarter worth about $264,000. Institutional investors and hedge funds own 9.83% of the company’s stock.

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.