Wall Street Zen Downgrades MIND Technology (NASDAQ:MIND) to Sell

MIND Technology (NASDAQ:MIND) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors 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 data from MarketBeat.com, the company presently has an average rating of “Hold”.

MIND Technology Price Performance

Shares of NASDAQ:MIND opened at $6.32 on Friday. MIND Technology has a 12 month low of $4.90 and a 12 month high of $14.50. The stock has a market cap of $57.13 million, a price-to-earnings ratio of 63.20 and a beta of 0.54. The stock’s 50 day moving average price is $8.24 and its 200 day moving average price is $9.27.

MIND Technology (NASDAQ:MIND) last announced its earnings results on Wednesday, April 15th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.34). MIND Technology had a return on equity of 2.36% and a net margin of 1.83%.The firm had revenue of $9.80 million for the quarter, compared to the consensus estimate of $14.65 million. During the same period in the previous year, the firm earned $0.25 EPS.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hazlett Burt & Watson Inc. bought a new position in shares of MIND Technology in the fourth quarter valued at $27,000. Pinnacle Holdings LLC purchased a new position in MIND Technology during the 3rd quarter worth approximately $28,000. Raymond James Financial Inc. purchased a new position in MIND Technology during the 2nd quarter worth approximately $33,000. Arkadios Wealth Advisors purchased a new position in MIND Technology during the 4th quarter worth approximately $106,000. Finally, Marshall Wace LLP purchased a new position in MIND Technology during the 4th quarter worth approximately $125,000. Institutional investors 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.