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 purchased a new position in MIND Technology, Inc. (NASDAQ:MIND - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 89,181 shares of the company's stock, valued at approximately $535,000. Informed Momentum Co LLC owned approximately 6.34% of MIND Technology as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. IFP Advisors Inc increased its position in MIND Technology by 100.0% during the 1st quarter. IFP Advisors Inc now owns 8,036 shares of the company's stock valued at $48,000 after buying an additional 4,018 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of MIND Technology in the fourth quarter worth $114,000. Brighton Jones LLC bought a new position in shares of MIND Technology during the fourth quarter valued at $138,000. Squarepoint Ops LLC bought a new position in shares of MIND Technology during the fourth quarter valued at $146,000. Finally, Northern Trust Corp purchased a new position in shares of MIND Technology in the 4th quarter worth about $155,000. 9.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

MIND Technology Stock Up 6.9%

NASDAQ:MIND opened at $10.22 on Wednesday. The stock has a market cap of $81.45 million, a price-to-earnings ratio of 3.54 and a beta of 0.68. The company's 50 day moving average price is $8.03 and its 200-day moving average price is $7.39. MIND Technology, Inc. has a 52 week low of $3.05 and a 52 week high of $11.10.

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

MIND Technology 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.

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