Shares of Mitcham Industries Inc. (NASDAQ:MIND) have been given a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Zacks has also assigned Mitcham Industries an industry rank of 198 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised Mitcham Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MIND. Vanguard Group Inc. raised its position in Mitcham Industries by 2.7% in the second quarter. Vanguard Group Inc. now owns 425,207 shares of the company’s stock valued at $1,594,000 after buying an additional 11,200 shares during the period. Hancock Holding Co. bought a new position in Mitcham Industries during the second quarter valued at approximately $106,000. Dimensional Fund Advisors LP raised its position in Mitcham Industries by 34.8% in the second quarter. Dimensional Fund Advisors LP now owns 965,237 shares of the company’s stock valued at $3,620,000 after buying an additional 249,230 shares during the period. Boston Partners raised its position in Mitcham Industries by 17.9% in the second quarter. Boston Partners now owns 448,727 shares of the company’s stock valued at $1,683,000 after buying an additional 68,021 shares during the period. Finally, Renaissance Technologies LLC raised its position in Mitcham Industries by 15.3% in the first quarter. Renaissance Technologies LLC now owns 111,400 shares of the company’s stock valued at $341,000 after buying an additional 14,800 shares during the period. 62.06% of the stock is currently owned by institutional investors.
Shares of Mitcham Industries (NASDAQ:MIND) traded up 1.54% during mid-day trading on Tuesday, hitting $3.30. The company had a trading volume of 9,328 shares. The stock’s 50-day moving average is $3.01 and its 200-day moving average is $3.42. Mitcham Industries has a 52-week low of $2.24 and a 52-week high of $5.00. The stock’s market cap is $39.83 million.
Mitcham Industries (NASDAQ:MIND) last issued its earnings results on Wednesday, September 7th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.49) by $0.31. The firm earned $8.70 million during the quarter, compared to analysts’ expectations of $11.20 million. Mitcham Industries had a negative return on equity of 25.73% and a negative net margin of 102.32%. Equities analysts forecast that Mitcham Industries will post ($2.10) earnings per share for the current year.
Mitcham Industries Company Profile
Mitcham Industries, Inc is a provider of equipment to the geophysical, oceanographic and hydrographic industries. The Company operates through two segments. The Equipment Leasing segment is primarily engaged in the leasing of seismic equipment to companies in the oil and gas industry across the world.
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