MIND Technology (NASDAQ:MIND) Stock Rating Lowered by Wall Street Zen

MIND Technology (NASDAQ:MIND) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MIND Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

MIND Technology Stock Up 10.1%

MIND stock opened at $9.78 on Friday. MIND Technology has a twelve month low of $3.75 and a twelve month high of $14.50. The company has a market cap of $77.93 million, a P/E ratio of 3.02 and a beta of 0.59. The business’s fifty day moving average is $10.23 and its 200-day moving average is $8.93.

MIND Technology (NASDAQ:MIND) last released its quarterly earnings data on Tuesday, September 9th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. MIND Technology had a return on equity of 15.85% and a net margin of 8.81%.The business had revenue of $13.56 million during the quarter, compared to the consensus estimate of $12.64 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share.

Hedge Funds Weigh In On MIND Technology

Several institutional investors have recently modified their holdings of the business. Corsair Capital Management L.P. acquired a new stake in MIND Technology during the 2nd quarter worth approximately $275,000. Informed Momentum Co LLC acquired a new position in shares of MIND Technology in the first quarter valued at approximately $535,000. Evernest Financial Advisors LLC bought a new stake in shares of MIND Technology during the second quarter worth $127,000. Brighton Jones LLC bought a new stake in shares of MIND Technology during the fourth quarter worth $138,000. Finally, ARS Wealth Advisors Group LLC bought a new stake in shares of MIND Technology during the second quarter worth $127,000. 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.