MIND Technology (NASDAQ:MIND) Raised to Sell at Wall Street Zen

MIND Technology (NASDAQ:MIND) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded MIND Technology from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has an average rating of “Sell”.

MIND Technology Stock Performance

Shares of MIND opened at $4.31 on Friday. The stock has a 50 day moving average price of $4.41 and a two-hundred day moving average price of $5.55. The firm has a market capitalization of $39.18 million, a P/E ratio of -16.58 and a beta of 0.33. MIND Technology has a 52 week low of $3.63 and a 52 week high of $14.50.

MIND Technology (NASDAQ:MIND) last posted its earnings results on Tuesday, September 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.11). MIND Technology had a negative net margin of 6.77% and a negative return on equity of 5.77%. The company had revenue of $5.62 million during the quarter, compared to the consensus estimate of $7.68 million.

Institutional Investors Weigh In On MIND Technology

Hedge funds have recently made changes to their positions in the business. Pinnacle Holdings LLC purchased a new position in shares of MIND Technology in the 2nd quarter worth about $25,000. Royal Bank of Canada boosted its stake in MIND Technology by 209.8% in the first quarter. Royal Bank of Canada now owns 6,490 shares of the company’s stock valued at $54,000 after acquiring an additional 4,395 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in MIND Technology in the first quarter valued at about $87,000. 9.83% of the stock is currently owned by institutional investors.

MIND Technology Company Profile

MIND Technology, Inc is a marine technology company that develops and supplies specialized equipment and systems for offshore seismic, hydrographic, oceanographic and defense applications. The company’s products are used to support marine exploration, survey operations, underwater positioning and data collection.

Through its Seamap business, MIND Technology offers marine seismic equipment and related technologies, including source-control systems, streamer-positioning and acoustic-navigation products, and other solutions designed to improve the accuracy and efficiency of offshore survey operations.