MIND Technology (NASDAQ:MIND) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of MIND Technology (NASDAQ:MIND) from a hold rating to a strong sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

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

MIND Technology Stock Up 0.3%

Shares of MIND opened at $3.92 on Friday. The stock has a market capitalization of $35.63 million, a P/E ratio of -15.08 and a beta of 0.36. The firm has a fifty day simple moving average of $4.85 and a two-hundred day simple moving average of $6.24. MIND Technology has a twelve month low of $3.63 and a twelve month high of $14.50.

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

Institutional Trading of MIND Technology

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in MIND Technology by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 90,429 shares of the company’s stock worth $795,000 after buying an additional 1,228 shares in the last quarter. LPL Financial LLC lifted its holdings in MIND Technology by 8.1% in the fourth quarter. LPL Financial LLC now owns 19,736 shares of the company’s stock worth $173,000 after buying an additional 1,472 shares during the period. Pinnacle Holdings LLC lifted its holdings in MIND Technology by 52.6% in the fourth quarter. Pinnacle Holdings LLC now owns 5,280 shares of the company’s stock worth $46,000 after buying an additional 1,820 shares during the period. Hazlett Burt & Watson Inc. bought a new stake in MIND Technology during the 4th quarter valued at approximately $27,000. Finally, Raymond James Financial Inc. bought a new stake in MIND Technology during the 2nd quarter valued at approximately $33,000. Institutional investors own 9.83% of the company’s stock.

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.