MIND Technology (NASDAQ:MIND) Releases Quarterly Earnings Results

MIND Technology (NASDAQ:MIND) released its quarterly earnings data on Wednesday. The company reported ($0.05) earnings per share for the quarter, Zacks reports. MIND Technology had a net margin of 1.83% and a return on equity of 2.19%.

MIND Technology Trading Down 5.8%

NASDAQ MIND traded down $0.34 during trading hours on Wednesday, reaching $5.56. 249,015 shares of the company’s stock were exchanged, compared to its average volume of 166,802. The stock has a market cap of $50.54 million, a PE ratio of 55.60 and a beta of 0.32. MIND Technology has a one year low of $5.51 and a one year high of $14.50. The firm has a fifty day moving average of $7.07 and a 200-day moving average of $8.22.

Institutional Investors Weigh In On MIND Technology

A number of large investors have recently bought and sold shares of MIND. Raymond James Financial Inc. acquired a new position in MIND Technology during the 2nd quarter worth $33,000. Pinnacle Holdings LLC lifted its stake in shares of MIND Technology by 52.6% in the 4th quarter. Pinnacle Holdings LLC now owns 5,280 shares of the company’s stock valued at $46,000 after purchasing an additional 1,820 shares during the period. Arkadios Wealth Advisors acquired a new position in shares of MIND Technology in the 4th quarter valued at $106,000. Marshall Wace LLP acquired a new position in shares of MIND Technology in the 4th quarter valued at $125,000. Finally, Brighton Jones LLC acquired a new position in shares of MIND Technology in the 4th quarter valued at $138,000. 9.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MIND shares. Wall Street Zen lowered MIND Technology from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Weiss Ratings lowered MIND Technology from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, MIND Technology has an average rating of “Hold”.

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.