Weiss Ratings Reiterates "Hold (C+)" Rating for MIND Technology (NASDAQ:MIND)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for MIND Technology, while Wall Street Zen has downgraded the stock from "strong-buy" to "buy."
• MIND Technology's stock opened at $10.09 and has a market cap of $80.42 million, with a P/E ratio of 3.11 and a 52-week range between $3.47 and $11.50.
• In its latest earnings report, MIND Technology reported $0.24 EPS, exceeding consensus estimates by $0.05 and revenue of $13.56 million, which was also above expectations.

MIND Technology (NASDAQ:MIND - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded MIND Technology from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, MIND Technology has an average rating of "Hold".

MIND Technology Trading Up 8.3%

NASDAQ:MIND opened at $10.09 on Wednesday. The stock's 50-day moving average is $9.36 and its 200-day moving average is $7.63. MIND Technology has a 1-year low of $3.47 and a 1-year high of $11.50. The stock has a market cap of $80.42 million, a P/E ratio of 3.11 and a beta of 0.56.

MIND Technology (NASDAQ:MIND - Get Free Report) last posted its earnings results on Tuesday, September 9th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $13.56 million for the quarter, compared to the consensus estimate 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) EPS.

Institutional Investors Weigh In On MIND Technology

Several hedge funds and other institutional investors have recently modified their holdings of MIND. Brighton Jones LLC increased its position in shares of MIND Technology by 6.5% during the second quarter. Brighton Jones LLC now owns 18,448 shares of the company's stock worth $156,000 after acquiring an additional 1,130 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $756,000 after purchasing an additional 1,518 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of MIND Technology during the 2nd quarter valued at $33,000. IFP Advisors Inc boosted 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 worth $48,000 after buying an additional 4,018 shares during the last quarter. Finally, Evernest Financial Advisors LLC purchased a new stake in MIND Technology during the second quarter worth about $127,000. 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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