Share on StockTwits

Mitcham Industries (NASDAQ:MIND)’s share price reached a new 52-week low during trading on Monday , Stock Ratings Network reports. The stock traded as low as $13.02 and last traded at $13.09, with a volume of 47,466 shares trading hands. The stock had previously closed at $13.34.

A number of analysts have recently weighed in on MIND shares. Analysts at Global Hunter Securities downgraded shares of Mitcham Industries from a “buy” rating to an “accumulate” rating in a research note on Monday. They now have a $15.00 price target on the stock, down previously from $17.00. Separately, analysts at TheStreet downgraded shares of Mitcham Industries from a “buy” rating to a “hold” rating in a research note on Friday, April 4th.

The stock’s 50-day moving average is $13.6 and its 200-day moving average is $15.2. The company has a market cap of $167.9 million and a P/E ratio of 37.06.

Mitcham Industries (NASDAQ:MIND) last announced its earnings results on Wednesday, April 2nd. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.20 by $0.06. The company had revenue of $23.60 million for the quarter, compared to the consensus estimate of $26.95 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. Analysts expect that Mitcham Industries will post $0.66 EPS for the current fiscal year.

Mitcham Industries, Inc (NASDAQ:MIND) leases and sells geophysical and other equipment used primarily by seismic data acquisition contractors to perform seismic data acquisition surveys on land, in transition zones (marsh and shallow water areas) and deep water marine areas.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.