MIND Technology (NASDAQ:MIND) Posts Quarterly Earnings Results, Misses Estimates By $0.34 EPS

MIND Technology (NASDAQ:MIND) released its earnings results on Wednesday. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.34), FiscalAI reports. The firm had revenue of $9.80 million during the quarter, compared to analysts’ expectations of $14.65 million. MIND Technology had a net margin of 6.61% and a return on equity of 9.95%. During the same quarter last year, the business earned $0.25 EPS.

MIND Technology Stock Down 0.5%

MIND stock opened at $8.71 on Thursday. The business has a fifty day moving average of $8.30 and a two-hundred day moving average of $9.29. The stock has a market cap of $78.74 million, a price-to-earnings ratio of 22.92 and a beta of 0.54. MIND Technology has a 52-week low of $4.75 and a 52-week high of $14.50.

Institutional Investors Weigh In On MIND Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in MIND Technology during the second quarter worth $33,000. Pinnacle Holdings LLC increased its stake in MIND Technology by 52.6% during the fourth quarter. Pinnacle Holdings LLC now owns 5,280 shares of the company’s stock worth $46,000 after acquiring an additional 1,820 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in MIND Technology during the fourth quarter worth $106,000. Marshall Wace LLP acquired a new stake in MIND Technology during the fourth quarter worth $125,000. Finally, Brighton Jones LLC acquired a new stake in MIND Technology during the fourth quarter worth $138,000. Institutional investors and hedge funds own 9.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of MIND Technology in a research report on Monday, March 23rd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, MIND Technology currently has an average rating of “Hold”.

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.