MIND Technology (NASDAQ:MIND) Shares Up 9.6% – Should You Buy?

MIND Technology, Inc. (NASDAQ:MIND) shares shot up 9.6% on Tuesday . The stock traded as high as $8.62 and last traded at $8.35. 111,363 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 188,342 shares. The stock had previously closed at $7.62.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of MIND Technology from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings restated a “hold (c)” rating on shares of MIND Technology in a research report on Monday, March 23rd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

MIND Technology Stock Performance

The stock has a market cap of $75.48 million, a PE ratio of 21.97 and a beta of 0.58. The stock has a fifty day moving average price of $8.46 and a 200 day moving average price of $9.30.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of MIND Technology by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 90,429 shares of the company’s stock valued at $795,000 after acquiring an additional 1,228 shares during the period. Stratos Wealth Partners LTD. grew its holdings in MIND Technology by 6.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 80,463 shares of the company’s stock valued at $707,000 after purchasing an additional 4,583 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in MIND Technology during the 4th quarter valued at about $482,000. Evergreen Capital Management LLC purchased a new stake in MIND Technology in the 2nd quarter worth about $414,000. Finally, Citadel Advisors LLC purchased a new stake in MIND Technology in the 3rd quarter worth about $340,000. 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.