Stratos Wealth Partners LTD. Trims Stake in MIND Technology, Inc. (NASDAQ:MIND)

Stratos Wealth Partners LTD. lowered its stake in shares of MIND Technology, Inc. (NASDAQ:MIND) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,680 shares of the company’s stock after selling 2,340 shares during the quarter. Stratos Wealth Partners LTD. owned about 6.24% of MIND Technology worth $526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in MIND Technology in the fourth quarter worth about $114,000. Brighton Jones LLC purchased a new stake in shares of MIND Technology in the 4th quarter worth approximately $138,000. Squarepoint Ops LLC purchased a new stake in shares of MIND Technology in the 4th quarter worth approximately $146,000. Northern Trust Corp purchased a new stake in shares of MIND Technology in the 4th quarter worth approximately $155,000. Finally, Virtu Financial LLC grew its stake in shares of MIND Technology by 117.0% in the 4th quarter. Virtu Financial LLC now owns 24,095 shares of the company’s stock worth $191,000 after buying an additional 12,991 shares during the last quarter. Hedge funds and other institutional investors own 9.83% of the company’s stock.

MIND Technology Stock Down 2.3%

NASDAQ:MIND opened at $7.62 on Tuesday. The company’s 50 day moving average price is $7.03 and its 200-day moving average price is $7.23. MIND Technology, Inc. has a 52 week low of $3.05 and a 52 week high of $11.10. The stock has a market cap of $60.73 million, a price-to-earnings ratio of 2.64 and a beta of 0.80.

MIND Technology (NASDAQ:MIND) last issued its earnings results on Tuesday, June 10th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.20). MIND Technology had a net margin of 6.99% and a return on equity of 19.12%. The business had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $10.10 million. During the same quarter in the prior year, the business posted $0.01 earnings per share.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut MIND Technology from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th.

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.