Informed Momentum Co LLC Buys Shares of 89,181 MIND Technology, Inc. (NASDAQ:MIND)

Key Points

• Informed Momentum Co LLC acquired 89,181 shares of MIND Technology, Inc. for approximately $535,000, representing a 6.34% ownership stake as of the latest SEC filing.
• Multiple hedge funds have recently increased their positions or initiated stakes in MIND Technology, with institutional investors now owning 9.83% of the company's stock.
• MIND Technology's stock price has seen a 6.9% increase, recently trading at $10.22, despite reporting a loss of ($0.12) earnings per share for the last quarter.

Informed Momentum Co LLC bought a new position in MIND Technology, Inc. (NASDAQ:MIND - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 89,181 shares of the company's stock, valued at approximately $535,000. Informed Momentum Co LLC owned about 6.34% of MIND Technology at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in shares of MIND Technology by 100.0% in the first quarter. IFP Advisors Inc now owns 8,036 shares of the company's stock worth $48,000 after purchasing an additional 4,018 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of MIND Technology in the fourth quarter worth about $146,000. Citadel Advisors LLC bought a new stake in shares of MIND Technology in the fourth quarter worth about $264,000. Northern Trust Corp bought a new stake in shares of MIND Technology in the fourth quarter worth about $155,000. Finally, Marshall Wace LLP bought a new stake in shares of MIND Technology in the fourth quarter worth about $825,000. 9.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered MIND Technology from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th.

MIND Technology Stock Down 2.9%

MIND traded down $0.28 on Friday, hitting $9.41. The company had a trading volume of 116,516 shares, compared to its average volume of 215,958. The company has a market cap of $75.00 million, a PE ratio of 3.26 and a beta of 0.68. MIND Technology, Inc. has a 12-month low of $3.05 and a 12-month high of $11.10. The business's fifty day simple moving average is $8.22 and its 200 day simple moving average is $7.41.

MIND Technology (NASDAQ:MIND - Get Free Report) last released its quarterly earnings results on Tuesday, June 10th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.20). The company had revenue of $7.90 million during the quarter, compared to analysts' expectations of $10.10 million. MIND Technology had a return on equity of 19.12% and a net margin of 6.99%. During the same quarter in the prior year, the business posted $0.01 EPS.

MIND Technology Company Profile

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.