MIND Technology (NASDAQ:MIND) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• MIND Technology has been upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating, indicating increased confidence from analysts.
• The company reported a quarterly earnings per share (EPS) of $0.24, surpassing analysts' expectations of $0.19, and generated revenue of $13.56 million for the quarter.
• Despite the upgrade, Weiss Ratings maintained a "hold (c+)" rating, suggesting a mixed outlook among analysts regarding MIND Technology's stock performance.

MIND Technology (NASDAQ:MIND - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of MIND Technology in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".

MIND Technology Price Performance

Shares of NASDAQ MIND opened at $10.42 on Friday. The stock has a market capitalization of $83.05 million, a P/E ratio of 3.22 and a beta of 0.56. The company has a 50-day moving average price of $9.48 and a 200-day moving average price of $8.01. MIND Technology has a 1 year low of $3.48 and a 1 year high of $11.53.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIND. Brighton Jones LLC purchased a new position in MIND Technology during the fourth quarter worth about $138,000. IFP Advisors Inc boosted its stake 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 worth $48,000 after buying an additional 4,018 shares during the last quarter. Informed Momentum Co LLC purchased a new position in shares of MIND Technology in the 1st quarter worth approximately $535,000. ARS Wealth Advisors Group LLC purchased a new position in shares of MIND Technology in the 2nd quarter worth approximately $127,000. Finally, Evernest Financial Advisors LLC purchased a new position in shares of MIND Technology in the 2nd quarter worth approximately $127,000. 9.83% of the stock is currently owned by hedge funds and other institutional investors.

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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