MITCHAM INDUSTR/SH (NASDAQ:MIND) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of MITCHAM INDUSTR/SH (NASDAQ:MIND) from a hold rating to a buy rating in a research note issued to investors on Tuesday, ValuEngine reports.

MIND traded up $0.01 during trading on Tuesday, hitting $2.37. The stock had a trading volume of 72,400 shares, compared to its average volume of 30,315. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.73 and a current ratio of 4.38. MITCHAM INDUSTR/SH has a 12 month low of $2.04 and a 12 month high of $4.42. The company has a 50 day simple moving average of $2.29 and a 200-day simple moving average of $3.33.

MITCHAM INDUSTR/SH (NASDAQ:MIND) last released its quarterly earnings results on Wednesday, December 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.02. The company had revenue of $10.66 million during the quarter. MITCHAM INDUSTR/SH had a negative net margin of 32.57% and a negative return on equity of 22.40%.

Large investors have recently made changes to their positions in the stock. Wasatch Advisors Inc. bought a new position in MITCHAM INDUSTR/SH in the 2nd quarter worth approximately $4,137,000. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of MITCHAM INDUSTR/SH in the third quarter valued at approximately $505,000. Teton Advisors Inc. boosted its position in shares of MITCHAM INDUSTR/SH by 33.3% in the second quarter. Teton Advisors Inc. now owns 200,000 shares of the company’s stock valued at $790,000 after acquiring an additional 49,931 shares during the period. Vanguard Group Inc. grew its stake in shares of MITCHAM INDUSTR/SH by 8.5% in the second quarter. Vanguard Group Inc. now owns 300,644 shares of the company’s stock worth $1,187,000 after acquiring an additional 23,500 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of MITCHAM INDUSTR/SH by 7.0% in the second quarter. Renaissance Technologies LLC now owns 339,821 shares of the company’s stock worth $1,342,000 after acquiring an additional 22,121 shares during the last quarter. Hedge funds and other institutional investors own 74.69% of the company’s stock.

MITCHAM INDUSTR/SH Company Profile

Mitcham Industries, Inc, through its subsidiaries, provides technology to the oceanographic, hydrographic, defense, seismic and maritime security industries worldwide. The company operates in two segments, Marine Technology Products, and Equipment Leasing. The Marine Technology Products segment develops, manufactures, and sells proprietary products.

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