MIND Technology (NASDAQ:MIND) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MIND Technology (NASDAQ:MIND) from a strong sell rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings cut MIND Technology from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has an average rating of “Sell”.

MIND Technology Trading Down 2.1%

Shares of MIND Technology stock opened at $4.22 on Friday. The firm has a fifty day moving average of $4.40 and a two-hundred day moving average of $5.52. MIND Technology has a 52 week low of $3.63 and a 52 week high of $14.50.

MIND Technology (NASDAQ:MIND) last posted its quarterly earnings results on Tuesday, September 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.11). The company had revenue of $5.62 million during the quarter, compared to analyst estimates of $7.68 million. MIND Technology had a negative net margin of 6.77% and a negative return on equity of 5.77%.

Institutional Trading of MIND Technology

Large investors have recently made changes to their positions in the company. Pinnacle Holdings LLC acquired a new stake in MIND Technology during the 2nd quarter worth $25,000. Royal Bank of Canada lifted its holdings in MIND Technology by 209.8% during the first quarter. Royal Bank of Canada now owns 6,490 shares of the company’s stock worth $54,000 after acquiring an additional 4,395 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in MIND Technology in the first quarter valued at about $87,000. Institutional investors own 9.83% of the company’s stock.

About MIND Technology

MIND Technology, Inc is a marine technology company that develops and supplies specialized equipment and systems for offshore seismic, hydrographic, oceanographic and defense applications. The company’s products are used to support marine exploration, survey operations, underwater positioning and data collection.

Through its Seamap business, MIND Technology offers marine seismic equipment and related technologies, including source-control systems, streamer-positioning and acoustic-navigation products, and other solutions designed to improve the accuracy and efficiency of offshore survey operations.