MIND Technology (NASDAQ:MIND) Upgraded by Wall Street Zen to “Hold” Rating

MIND Technology (NASDAQ:MIND) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings cut shares of MIND Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, MIND Technology presently has an average rating of “Sell”.

MIND Technology Stock Up 1.0%

NASDAQ MIND opened at $5.31 on Friday. MIND Technology has a 52 week low of $4.84 and a 52 week high of $14.50. The stock has a market capitalization of $48.27 million, a PE ratio of 31.24 and a beta of 0.32. The firm has a 50 day moving average of $6.90 and a two-hundred day moving average of $8.15.

MIND Technology (NASDAQ:MIND) last posted its quarterly earnings results on Wednesday, June 10th. The company reported ($0.05) EPS for the quarter. MIND Technology had a return on equity of 3.56% and a net margin of 3.06%.The firm had revenue of $9.67 million for the quarter.

Institutional Trading of MIND Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in MIND Technology by 209.8% during the first quarter. Royal Bank of Canada now owns 6,490 shares of the company’s stock worth $54,000 after purchasing an additional 4,395 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of MIND Technology during the first quarter worth about $87,000. Marshall Wace LLP purchased a new position in shares of MIND Technology during the fourth quarter worth about $125,000. Arkadios Wealth Advisors purchased a new position in shares of MIND Technology during the fourth quarter worth about $106,000. Finally, Jane Street Group LLC grew its holdings in shares of MIND Technology by 71.1% during the fourth quarter. Jane Street Group LLC now owns 32,190 shares of the company’s stock worth $283,000 after purchasing an additional 13,372 shares during the last quarter. Institutional investors and hedge funds 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.