MIND Technology, Inc. (NASDAQ:MIND - Get Free Report) shares dropped 1.6% during mid-day trading on Monday . The stock traded as low as $7.84 and last traded at $7.97. Approximately 131,201 shares changed hands during trading, a decline of 43% from the average daily volume of 229,145 shares. The stock had previously closed at $8.10.
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.
View Our Latest Stock Analysis on MIND Technology
MIND Technology Stock Performance
The company has a market cap of $64.80 million, a price-to-earnings ratio of 2.81 and a beta of 0.80. The business has a 50-day simple moving average of $7.01 and a 200-day simple moving average of $7.23.
MIND Technology (NASDAQ:MIND - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.20). MIND Technology had a net margin of 6.99% and a return on equity of 19.12%. The company had revenue of $7.90 million during the quarter, compared to analyst estimates of $10.10 million. During the same period in the prior year, the business earned $0.01 EPS.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc increased its holdings in shares of MIND Technology by 100.0% in the 1st quarter. IFP Advisors Inc now owns 8,036 shares of the company's stock valued at $48,000 after acquiring an additional 4,018 shares during the last quarter. XTX Topco Ltd purchased a new position in MIND Technology during the 4th quarter worth approximately $114,000. ARS Wealth Advisors Group LLC purchased a new position in MIND Technology during the 2nd quarter worth approximately $127,000. Brighton Jones LLC purchased a new position in MIND Technology during the 4th quarter worth approximately $138,000. Finally, Squarepoint Ops LLC purchased a new position in MIND Technology during the 4th quarter worth approximately $146,000. Hedge funds and other institutional investors own 9.83% of the company's stock.
MIND Technology Company Profile
(
Get Free Report)
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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