MITCHAM INDUSTR/SH (NASDAQ:MIND) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 78,800 shares, a drop of 16.7% from the December 31st total of 94,600 shares. Based on an average daily trading volume, of 33,300 shares, the days-to-cover ratio is currently 2.4 days. Currently, 0.7% of the shares of the company are short sold.
Separately, ValuEngine upgraded MITCHAM INDUSTR/SH from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd.
Several hedge funds and other institutional investors have recently modified their holdings of MIND. K.J. Harrison & Partners Inc purchased a new position in MITCHAM INDUSTR/SH in the 4th quarter valued at $57,000. Wolverine Trading LLC acquired a new position in MITCHAM INDUSTR/SH in the 2nd quarter valued at $87,000. Dalton Greiner Hartman Maher & Co. purchased a new position in MITCHAM INDUSTR/SH during the 3rd quarter worth $505,000. Vanguard Group Inc. raised its position in MITCHAM INDUSTR/SH by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 300,644 shares of the company’s stock worth $1,187,000 after buying an additional 23,500 shares during the last quarter. Finally, BlackRock Inc. raised its position in MITCHAM INDUSTR/SH by 1.7% during the 2nd quarter. BlackRock Inc. now owns 333,236 shares of the company’s stock worth $1,317,000 after buying an additional 5,593 shares during the last quarter. 73.23% of the stock is owned by hedge funds and other institutional investors.
MITCHAM INDUSTR/SH (NASDAQ:MIND) last released its 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. MITCHAM INDUSTR/SH had a negative return on equity of 29.75% and a negative net margin of 28.11%. The business had revenue of $10.66 million for the quarter.
About MITCHAM INDUSTR/SH
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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