MIND Technology (NASDAQ:MIND) Trading 4% Higher – What’s Next?

MIND Technology, Inc. (NASDAQ:MIND) shares were up 4% during mid-day trading on Monday . The stock traded as high as $5.47 and last traded at $4.92. 219,308 shares changed hands during mid-day trading, an increase of 170% from the average daily volume of 81,232 shares. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wall Street Zen upgraded MIND Technology from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings lowered shares of MIND Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, MIND Technology has a consensus rating of “Sell”.

MIND Technology Trading Down 4.5%

The firm’s fifty day moving average price is $5.10 and its 200-day moving average price is $6.75. The firm has a market cap of $42.72 million, a price-to-earnings ratio of 27.65 and a beta of 0.37.

MIND Technology (NASDAQ:MIND) last issued its quarterly earnings data on Wednesday, June 10th. The company reported ($0.05) earnings per share (EPS) for the quarter. MIND Technology had a return on equity of 3.45% and a net margin of 3.06%.The firm had revenue of $9.67 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MIND. Commonwealth Equity Services LLC purchased a new stake in shares of MIND Technology in the fourth quarter valued at $482,000. Evergreen Capital Management LLC acquired a new stake in MIND Technology during the 2nd quarter worth approximately $414,000. Citadel Advisors LLC purchased a new position in MIND Technology in the third quarter valued at approximately $340,000. HRT Financial LP purchased a new position in MIND Technology in the fourth quarter valued at approximately $277,000. Finally, Jump Financial LLC acquired a new position in MIND Technology during the second quarter valued at approximately $239,000. Institutional investors and hedge funds own 9.83% of the company’s stock.

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.