MIND Technology (NASDAQ:MIND) Trading 4.7% Higher – Still a Buy?

MIND Technology, Inc. (NASDAQ:MIND) shares traded up 4.7% on Monday . The stock traded as high as $7.40 and last traded at $7.18. 200,799 shares traded hands during trading, a decline of 16% from the average session volume of 239,680 shares. The stock had previously closed at $6.86.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of MIND Technology from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, April 24th. Wall Street Zen downgraded MIND Technology from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

MIND Technology Price Performance

The firm has a fifty day simple moving average of $7.69 and a 200 day simple moving average of $8.90. The company has a market cap of $61.90 million, a price-to-earnings ratio of 68.10 and a beta of 0.30.

MIND Technology (NASDAQ:MIND) last announced its quarterly earnings results on Wednesday, April 15th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.34). MIND Technology had a net margin of 1.83% and a return on equity of 2.19%. The company had revenue of $9.80 million for the quarter, compared to analyst estimates of $14.65 million. During the same quarter last year, the business earned $0.25 EPS.

Institutional Investors Weigh In On MIND Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hazlett Burt & Watson Inc. acquired a new stake in shares of MIND Technology in the fourth quarter worth $27,000. Pinnacle Holdings LLC acquired a new stake in shares of MIND Technology in the third quarter worth $28,000. Raymond James Financial Inc. acquired a new stake in shares of MIND Technology in the second quarter worth $33,000. Cetera Investment Advisers acquired a new stake in shares of MIND Technology in the first quarter worth $87,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of MIND Technology in the fourth quarter worth $106,000. Institutional investors and hedge funds own 9.83% of the company’s stock.

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.