MIND Technology (NASDAQ:MIND) Issues Earnings Results, Misses Estimates By $0.11 EPS

MIND Technology (NASDAQ:MIND) issued its quarterly earnings data on Tuesday. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.11), Zacks reports. MIND Technology had a return on equity of 3.45% and a net margin of 3.06%.

MIND Technology Stock Down 8.1%

MIND traded down $0.37 during trading on Tuesday, hitting $4.20. 263,569 shares of the stock were exchanged, compared to its average volume of 142,021. MIND Technology has a 1-year low of $4.20 and a 1-year high of $14.50. The stock has a fifty day moving average price of $4.91 and a two-hundred day moving average price of $6.35. The firm has a market capitalization of $38.17 million, a P/E ratio of 24.71 and a beta of 0.36.

Institutional Trading of MIND Technology

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings 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 buying an additional 1,228 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in MIND Technology in the 4th quarter valued at about $482,000. Evergreen Capital Management LLC purchased a new stake in MIND Technology during the 2nd quarter valued at approximately $414,000. Citadel Advisors LLC acquired a new stake in MIND Technology during the 3rd quarter worth approximately $340,000. Finally, Jane Street Group LLC grew its stake in shares of MIND Technology by 71.1% in the 4th quarter. Jane Street Group LLC now owns 32,190 shares of the company’s stock valued at $283,000 after purchasing an additional 13,372 shares during the last quarter. Institutional investors and hedge funds own 9.83% of the company’s stock.

Analysts Set New Price Targets

MIND has been the subject of a number of research reports. Weiss Ratings cut MIND Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded shares of MIND Technology from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, MIND Technology currently has a consensus rating of “Sell”.

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.