MIND Technology, Inc. (NASDAQ:MIND) Short Interest Up 73.9% in February

MIND Technology, Inc. (NASDAQ:MIND) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 209,600 shares, an increase of 73.9% from the January 31st total of 120,500 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily volume of 407,800 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On MIND Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kennedy Capital Management LLC raised its holdings in shares of MIND Technology by 9.0% during the fourth quarter. Kennedy Capital Management LLC now owns 211,471 shares of the company’s stock worth $1,679,000 after acquiring an additional 17,421 shares in the last quarter. Renaissance Technologies LLC increased its position in MIND Technology by 112.0% in the 4th quarter. Renaissance Technologies LLC now owns 124,340 shares of the company’s stock worth $987,000 after purchasing an additional 65,700 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of MIND Technology during the 4th quarter worth about $825,000. Geode Capital Management LLC lifted its holdings in shares of MIND Technology by 416.5% during 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. Finally, Bank of New York Mellon Corp bought a new stake in shares of MIND Technology in the 4th quarter valued at approximately $458,000. 9.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered MIND Technology from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th.

MIND Technology Price Performance

MIND Technology stock traded down $0.85 during mid-day trading on Monday, hitting $7.21. The company’s stock had a trading volume of 353,471 shares, compared to its average volume of 148,843. The company has a market cap of $10.14 million, a PE ratio of 2.32 and a beta of 0.91. MIND Technology has a 52-week low of $3.05 and a 52-week high of $11.10. The firm’s 50 day moving average is $8.48 and its 200 day moving average is $5.60.

MIND Technology (NASDAQ:MIND) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $2.87 EPS for the quarter. MIND Technology had a net margin of 9.92% and a negative return on equity of 104.48%.

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.