Corsair Capital Management L.P. Acquires Shares of 32,536 MIND Technology, Inc. $MIND

Corsair Capital Management L.P. bought a new stake in MIND Technology, Inc. (NASDAQ:MIND) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 32,536 shares of the company’s stock, valued at approximately $275,000. Corsair Capital Management L.P. owned about 0.41% of MIND Technology as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc raised its stake in MIND Technology by 100.0% during the 1st quarter. IFP Advisors Inc now owns 8,036 shares of the company’s stock valued at $48,000 after acquiring an additional 4,018 shares during the last quarter. Evernest Financial Advisors LLC acquired a new stake in shares of MIND Technology in the 2nd quarter worth approximately $127,000. ARS Wealth Advisors Group LLC purchased a new position in MIND Technology in the 2nd quarter valued at approximately $127,000. Brighton Jones LLC acquired a new position in MIND Technology during the fourth quarter worth $138,000. Finally, Informed Momentum Co LLC acquired a new position in MIND Technology during the first quarter worth $535,000. Hedge funds and other institutional investors own 9.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MIND shares. Weiss Ratings restated a “hold (c+)” rating on shares of MIND Technology in a research report on Wednesday, October 8th. Wall Street Zen raised shares of MIND Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

MIND Technology Stock Up 2.4%

MIND stock opened at $8.88 on Friday. The stock has a market capitalization of $70.76 million, a price-to-earnings ratio of 2.74 and a beta of 0.59. The stock’s fifty day simple moving average is $10.20 and its 200-day simple moving average is $8.90. MIND Technology, Inc. has a 52-week low of $3.75 and a 52-week high of $14.50.

MIND Technology (NASDAQ:MIND) last issued its quarterly earnings results on Tuesday, September 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $13.56 million for the quarter, compared to analyst estimates of $12.64 million. MIND Technology had a return on equity of 15.85% and a net margin of 8.81%.During the same period last year, the company earned ($0.11) EPS.

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.