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Mitcham Industries (NASDAQ:MIND)’s share price hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings, American Banking & Market News reports. The company traded as low as $11.55 and last traded at $11.59, with a volume of 144,586 shares traded. The stock had previously closed at $12.99.

The company reported ($0.26) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.03) by $0.23. The company had revenue of $19.50 million for the quarter. During the same quarter last year, the company posted ($0.05) earnings per share.

The stock’s 50-day moving average is $13.27 and its 200-day moving average is $13.78. The company has a market cap of $149.0 million and a price-to-earnings ratio of 77.78.

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.

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