MIND Technology (NASDAQ:MIND) Stock Rating Upgraded by Wall Street Zen

Key Points

• MIND Technology has been upgraded by Wall Street Zen from a "hold" rating to a "strong-buy" rating.
• The company reported a quarterly EPS of $0.24, beating analysts' expectations and showing a significant improvement over the previous year's EPS of ($0.11).
• Approximately 9.83% of MIND Technology's stock is owned by institutional investors, indicating growing interest from large investors.

Wall Street Zen upgraded shares of MIND Technology (NASDAQ:MIND - Free Report) from a hold rating to a strong-buy rating in a report released on Saturday.

MIND Technology Stock Up 2.6%

MIND traded up $0.21 on Friday, hitting $8.27. The company's stock had a trading volume of 172,633 shares, compared to its average volume of 206,019. MIND Technology has a 12 month low of $3.47 and a 12 month high of $11.50. The firm has a market cap of $65.90 million, a P/E ratio of 2.55 and a beta of 0.66. The company's 50 day simple moving average is $9.22 and its 200-day simple moving average is $7.49.

MIND Technology (NASDAQ:MIND - Get Free Report) last posted its earnings results on Tuesday, September 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. MIND Technology had a net margin of 8.81% and a return on equity of 15.85%. The business had revenue of $13.56 million for the quarter, compared to analysts' expectations of $12.64 million. During the same period in the prior year, the company posted ($0.11) EPS.

Institutional Trading of MIND Technology

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in MIND Technology by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 89,550 shares of the company's stock worth $756,000 after purchasing an additional 1,518 shares in the last quarter. Informed Momentum Co LLC purchased a new stake in MIND Technology in the 1st quarter worth approximately $535,000. Evergreen Capital Management LLC purchased a new stake in MIND Technology in the 2nd quarter worth approximately $414,000. Quadrature Capital Ltd purchased a new stake in MIND Technology in the 2nd quarter worth approximately $285,000. Finally, Citadel Advisors LLC purchased a new stake in MIND Technology in the 4th quarter worth approximately $264,000. 9.83% of the stock is currently owned by hedge funds and other institutional investors.

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.