MIND Technology (NASDAQ:MIND) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded MIND Technology from a "hold" to a "sell," while Weiss Ratings reissued a "hold" and the consensus rating remains "Hold."
• MIND missed quarterly expectations, reporting EPS of ($0.03) vs. a $0.31 consensus and revenue of $9.8M vs. $14.65M, down from $0.25 EPS in the prior-year period.
• The company is small with a market cap of about $57M and a high P/E (63.2); the shares opened at $6.32, trading below both the 50- and 200-day moving averages, and institutional ownership is modest at ~9.8%.

MIND Technology (NASDAQ:MIND - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reissued 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.com, the stock has a consensus rating of "Hold".

MIND Technology Price Performance

Shares of MIND stock opened at $6.32 on Friday. MIND Technology has a 1 year low of $4.90 and a 1 year high of $14.50. The firm has a fifty day moving average price of $8.24 and a 200-day moving average price of $9.26. The company has a market cap of $57.13 million, a price-to-earnings ratio of 63.20 and a beta of 0.54.

MIND Technology (NASDAQ:MIND - Get Free Report) last issued its quarterly earnings data on Wednesday, April 15th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.34). MIND Technology had a net margin of 1.83% and a return on equity of 2.36%. The business had revenue of $9.80 million for the quarter, compared to the consensus estimate of $14.65 million. During the same period in the previous year, the firm earned $0.25 EPS.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Hazlett Burt & Watson Inc. purchased a new position in shares of MIND Technology during the 4th quarter valued at $27,000. Pinnacle Holdings LLC purchased a new position in shares of MIND Technology during the 3rd quarter valued at $28,000. Raymond James Financial Inc. purchased a new position in shares of MIND Technology during the 2nd quarter valued at $33,000. Arkadios Wealth Advisors purchased a new position in shares of MIND Technology during the 4th quarter valued at $106,000. Finally, Marshall Wace LLP purchased a new position in shares of MIND Technology during the 4th quarter valued at $125,000. Hedge funds and other institutional investors 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.

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