MIND Technology (NASDAQ:MIND) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of MIND Technology (NASDAQ:MIND) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

MIND Technology Price Performance

NASDAQ:MIND opened at $8.70 on Tuesday. The business has a fifty day moving average price of $6.45 and a 200-day moving average price of $4.86. MIND Technology has a one year low of $3.05 and a one year high of $9.35. The firm has a market capitalization of $12.27 million, a price-to-earnings ratio of 2.80 and a beta of 0.90.

MIND Technology (NASDAQ:MIND) last released its earnings results on Tuesday, December 10th. The company reported $2.87 earnings per share (EPS) for the quarter. MIND Technology had a net margin of 9.92% and a negative return on equity of 104.48%.

Institutional Trading of MIND Technology

A hedge fund recently bought a new stake in MIND Technology stock. Virtu Financial LLC acquired a new stake in shares of MIND Technology, Inc. (NASDAQ:MIND) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 11,104 shares of the company’s stock, valued at approximately $43,000. Virtu Financial LLC owned about 0.79% of MIND Technology as of its most recent SEC filing. Hedge funds and other institutional investors 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.