MIND Technology (NASDAQ:MIND) Issues Earnings Results

MIND Technology (NASDAQ:MIND) announced its quarterly earnings results on Tuesday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.11), Zacks reports. The company had revenue of $5.62 million for the quarter, compared to analyst estimates of $7.68 million. MIND Technology had a negative net margin of 6.77% and a negative return on equity of 5.75%.

MIND Technology Stock Performance

MIND opened at $3.89 on Thursday. The firm has a market cap of $35.36 million, a price-to-earnings ratio of -14.96 and a beta of 0.36. The firm’s 50-day simple moving average is $4.88 and its 200-day simple moving average is $6.28. MIND Technology has a twelve month low of $3.63 and a twelve month high of $14.50.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of MIND Technology in a report on Tuesday. Wall Street Zen raised shares of MIND Technology from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On MIND Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC acquired a new stake in MIND Technology during the 4th quarter valued at $482,000. Evergreen Capital Management LLC bought a new position in MIND Technology in the 2nd quarter valued at $414,000. Citadel Advisors LLC acquired a new position in MIND Technology in the third quarter worth $340,000. HRT Financial LP acquired a new position in MIND Technology in the fourth quarter worth $277,000. Finally, Jump Financial LLC bought a new stake in shares of MIND Technology during the second quarter worth $239,000. 9.83% of the stock is currently owned by institutional investors and hedge funds.

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.