MIND Technology (NASDAQ:MIND) Issues Earnings Results

MIND Technology (NASDAQ:MIND) posted its quarterly earnings data on Wednesday. The company reported ($0.05) earnings per share for the quarter, Zacks reports. MIND Technology had a net margin of 1.83% and a return on equity of 2.19%. The business had revenue of $9.67 million during the quarter.

MIND Technology Trading Down 5.8%

Shares of NASDAQ MIND opened at $5.56 on Thursday. The business has a fifty day simple moving average of $7.02 and a 200 day simple moving average of $8.20. The firm has a market capitalization of $50.53 million, a price-to-earnings ratio of 55.60 and a beta of 0.32. MIND Technology has a one year low of $5.51 and a one year high of $14.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MIND. Brighton Jones LLC acquired a new position in shares of MIND Technology in the fourth quarter valued at $138,000. Geode Capital Management LLC raised its stake in shares of MIND Technology by 1.7% in the second quarter. Geode Capital Management LLC now owns 89,550 shares of the company’s stock valued at $756,000 after purchasing an additional 1,518 shares in the last quarter. Jump Financial LLC acquired a new position in shares of MIND Technology in the second quarter valued at $239,000. Raymond James Financial Inc. acquired a new position in shares of MIND Technology in the second quarter valued at $33,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of MIND Technology in the second quarter valued at $414,000. 9.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MIND has been the subject of several research reports. Wall Street Zen cut MIND Technology from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Weiss Ratings cut MIND Technology from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, MIND Technology has an average rating of “Hold”.

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.