MIND Technology (NASDAQ:MIND) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of MIND Technology (NASDAQ:MIND) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday.

MIND Technology Stock Down 1.6%

Shares of NASDAQ:MIND opened at $8.73 on Friday. The stock has a market cap of $69.58 million, a price-to-earnings ratio of 2.69 and a beta of 0.66. MIND Technology has a 12-month low of $3.47 and a 12-month high of $11.50. The business’s 50 day moving average is $9.28 and its 200 day moving average is $7.52.

MIND Technology (NASDAQ:MIND) last announced its earnings results on Tuesday, September 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $13.56 million for the quarter, compared to analysts’ expectations of $12.64 million. MIND Technology had a return on equity of 15.85% and a net margin of 8.81%.During the same quarter in the previous year, the firm earned ($0.11) earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in MIND Technology by 1.7% in the second 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 during the last quarter. Informed Momentum Co LLC purchased a new position in MIND Technology in the first quarter worth $535,000. Evergreen Capital Management LLC purchased a new position in MIND Technology in the second quarter worth $414,000. Quadrature Capital Ltd purchased a new position in MIND Technology in the second quarter worth $285,000. Finally, Citadel Advisors LLC purchased a new position in MIND Technology in the fourth quarter worth $264,000. Hedge funds and other institutional investors own 9.83% of the company’s stock.

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.