MIND Technology (NASDAQ:MIND) Stock Rating Upgraded by Wall Street Zen
Wall Street Zen upgraded MIND Technology's stock rating from "buy" to "strong-buy." Despite this, Weiss Ratings maintained a "hold" rating. MIND Technology's stock opened at $9.02, with a market cap of $71.88 million. The company reported better-than-expected quarterly earnings, with $0.24 EPS. Institutional investors have been adjusting their stakes in the company. MIND Technology provides technology for oceanographic and defense industries. Despite the upgrade, some analysts suggest other stocks as better investments.
MIND Technology (NASDAQ:MIND - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.
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Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of MIND Technology in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".
Check Out Our Latest Report on MIND Technology
MIND Technology Stock Performance
MIND Technology stock opened at $9.02 on Friday. The stock has a market capitalization of $71.88 million, a P/E ratio of 2.78 and a beta of 0.59. The company's fifty day moving average price is $10.16 and its 200 day moving average price is $8.84. MIND Technology has a 1 year low of $3.75 and a 1 year high of $14.50.
MIND Technology (NASDAQ:MIND - Get Free Report) last posted its quarterly earnings data on Tuesday, September 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. MIND Technology had a net margin of 8.81% and a return on equity of 15.85%. The business had revenue of $13.56 million for the quarter, compared to the consensus estimate of $12.64 million. During the same period last year, the firm posted ($0.11) earnings per share.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in MIND Technology by 1.7% in the second quarter. Geode Capital Management LLC now owns 89,550 shares of the company's stock worth $756,000 after acquiring an additional 1,518 shares during the period. Informed Momentum Co LLC acquired a new position in shares of MIND Technology in the 1st quarter valued at $535,000. Evergreen Capital Management LLC purchased a new position in shares of MIND Technology during the 2nd quarter worth $414,000. Citadel Advisors LLC acquired a new stake in shares of MIND Technology during the 3rd quarter worth about $340,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of MIND Technology during the 2nd quarter worth about $285,000. 9.83% of the stock is currently owned by institutional investors and hedge funds.
MIND Technology Company Profile
(Get Free Report)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.
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