MIND Technology, Inc. (NASDAQ:MIND) Short Interest Update

MIND Technology, Inc. (NASDAQ:MIND) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 207,000 shares, a decrease of 16.3% from the March 15th total of 247,300 shares. Based on an average trading volume of 295,100 shares, the days-to-cover ratio is currently 0.7 days. Currently, 2.7% of the shares of the stock are sold short.

MIND Technology Price Performance

NASDAQ:MIND opened at $5.44 on Wednesday. The company has a market cap of $7.65 million, a price-to-earnings ratio of 1.75 and a beta of 0.64. MIND Technology has a 1 year low of $3.05 and a 1 year high of $11.10. The stock’s 50 day simple moving average is $6.78 and its two-hundred day simple moving average is $6.17.

MIND Technology (NASDAQ:MIND) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. The company had revenue of $15.04 million for the quarter, compared to the consensus estimate of $12.20 million. MIND Technology had a net margin of 9.92% and a negative return on equity of 104.48%. During the same quarter in the prior year, the firm earned $0.39 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. IFP Advisors Inc purchased a new stake in MIND Technology in the fourth quarter worth $32,000. Virtu Financial LLC purchased a new position in shares of MIND Technology during the third quarter worth approximately $43,000. XTX Topco Ltd purchased a new position in shares of MIND Technology during the fourth quarter worth approximately $114,000. Brighton Jones LLC bought a new stake in shares of MIND Technology during the fourth quarter valued at approximately $138,000. Finally, Squarepoint Ops LLC bought a new position in MIND Technology in the fourth quarter worth approximately $146,000. Institutional investors own 9.83% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of MIND Technology from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th.

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.