MIND Technology (NASDAQ:MIND) Releases Quarterly Earnings Results, Misses Expectations By $0.11 EPS

MIND Technology (NASDAQ:MIND) released its quarterly earnings data on Tuesday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.11), Zacks reports. MIND Technology had a net margin of 3.06% and a return on equity of 3.45%. The firm had revenue of $5.62 million for the quarter, compared to the consensus estimate of $7.68 million.

MIND Technology Stock Performance

Shares of MIND stock opened at $4.20 on Wednesday. The firm has a market cap of $38.18 million, a price-to-earnings ratio of 24.71 and a beta of 0.36. MIND Technology has a 52 week low of $4.20 and a 52 week high of $14.50. The firm’s 50-day simple moving average is $4.90 and its two-hundred day simple moving average is $6.32.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Weiss Ratings downgraded shares of MIND Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research report 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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP bought a new position in MIND Technology during the fourth quarter worth about $125,000. Arkadios Wealth Advisors bought a new stake in shares of MIND Technology in the fourth quarter valued at approximately $106,000. Jane Street Group LLC raised its position in shares of MIND Technology by 71.1% in the fourth 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 period. HRT Financial LP purchased a new stake in shares of MIND Technology during the 4th quarter valued at approximately $277,000. Finally, Commonwealth Equity Services LLC bought a new position in MIND Technology in the 4th quarter worth approximately $482,000. 9.83% of the stock is owned by institutional investors.

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.