MIND Technology (NASDAQ:MIND) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of MIND Technology (NASDAQ:MIND) from a hold rating to a sell rating in a report released on Saturday.

Separately, Weiss Ratings reiterated 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, the stock currently has an average rating of “Hold”.

MIND Technology Trading Down 3.8%

MIND opened at $6.08 on Friday. The stock has a market capitalization of $54.96 million, a P/E ratio of 60.80 and a beta of 0.54. MIND Technology has a 12 month low of $4.90 and a 12 month high of $14.50. The firm’s fifty day simple moving average is $8.19 and its 200 day simple moving average is $9.26.

MIND Technology (NASDAQ:MIND) last released its earnings results on Wednesday, April 15th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter last year, the company posted $0.25 EPS.

Institutional Investors Weigh In On MIND Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIND. Brighton Jones LLC bought a new stake in MIND Technology during the 4th quarter worth about $138,000. Geode Capital Management LLC grew its holdings in shares of MIND Technology by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 89,550 shares of the company’s stock valued at $756,000 after acquiring an additional 1,518 shares in the last quarter. Jump Financial LLC bought a new position in shares of MIND Technology in the 2nd quarter valued at about $239,000. Raymond James Financial Inc. acquired a new stake in shares of MIND Technology in the second quarter valued at about $33,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of MIND Technology in the second quarter valued at about $414,000. 9.83% of the stock is currently owned by institutional investors and hedge funds.

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.