MIND Technology (NASDAQ:MIND) Posts Earnings Results, Misses Estimates By $0.34 EPS

MIND Technology (NASDAQ:MIND) posted its earnings results on Wednesday. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.34), FiscalAI reports. MIND Technology had a return on equity of 9.95% and a net margin of 6.61%.The business had revenue of $9.80 million for the quarter, compared to the consensus estimate of $14.65 million.

MIND Technology Stock Performance

MIND traded down $0.04 during mid-day trading on Wednesday, reaching $8.71. 235,519 shares of the stock were exchanged, compared to its average volume of 163,942. MIND Technology has a 1 year low of $4.75 and a 1 year high of $14.50. The stock has a market capitalization of $78.74 million, a PE ratio of 22.92 and a beta of 0.54. The company has a 50 day moving average price of $8.30 and a two-hundred day moving average price of $9.30.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MIND Technology in a research report on Monday, March 23rd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On MIND Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of MIND Technology in the 4th quarter worth approximately $138,000. Geode Capital Management LLC lifted its holdings in MIND Technology by 1.7% during the second quarter. Geode Capital Management LLC now owns 89,550 shares of the company’s stock worth $756,000 after acquiring an additional 1,518 shares during the period. Jump Financial LLC bought a new stake in MIND Technology during the second quarter worth $239,000. Raymond James Financial Inc. purchased a new position in MIND Technology in the second quarter worth $33,000. Finally, Evergreen Capital Management LLC bought a new position in MIND Technology in the 2nd quarter valued at $414,000. Hedge funds and other 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.