MIND Technology (NASDAQ:MIND) Trading Down 0.7% – Should You Sell?

MIND Technology, Inc. (NASDAQ:MIND)’s stock price was down 0.7% on Monday . The stock traded as low as $8.11 and last traded at $8.69. Approximately 186,026 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 197,333 shares. The stock had previously closed at $8.75.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MIND. Weiss Ratings reissued a “hold (c)” rating on shares of MIND Technology in a report on Wednesday, December 24th. Wall Street Zen downgraded MIND Technology from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

MIND Technology Stock Performance

The stock’s 50-day moving average price is $9.27 and its 200-day moving average price is $9.65. The company has a market capitalization of $78.56 million, a price-to-earnings ratio of 22.87 and a beta of 0.58.

MIND Technology (NASDAQ:MIND) last released its quarterly earnings results on Tuesday, December 9th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.15). MIND Technology had a return on equity of 9.95% and a net margin of 6.61%.The firm had revenue of $9.69 million during the quarter, compared to analyst estimates of $10.90 million.

Hedge Funds Weigh In On MIND Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of MIND Technology by 1.7% in the second quarter. Geode Capital Management LLC now owns 89,550 shares of the company’s stock valued at $756,000 after purchasing an additional 1,518 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of MIND Technology by 6.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 80,463 shares of the company’s stock worth $707,000 after purchasing an additional 4,583 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in MIND Technology in the 2nd quarter valued at approximately $414,000. Citadel Advisors LLC acquired a new stake in MIND Technology during the 3rd quarter valued at $340,000. Finally, Quadrature Capital Ltd purchased a new position in MIND Technology during the second quarter worth $285,000. Institutional investors and hedge funds own 9.83% of the company’s stock.

About MIND Technology

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.