MIND Technology (NASDAQ:MIND) Upgraded by Wall Street Zen to Strong-Buy Rating

MIND Technology (NASDAQ:MIND) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a note issued to investors on Saturday.

MIND Technology Price Performance

Shares of MIND stock opened at $8.19 on Friday. The stock has a market cap of $65.27 million, a P/E ratio of 2.53 and a beta of 0.66. The company has a fifty day moving average price of $9.20 and a two-hundred day moving average price of $7.48. MIND Technology has a one year low of $3.47 and a one year high of $11.50.

MIND Technology (NASDAQ:MIND) last announced its quarterly earnings results on Tuesday, September 9th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $13.56 million during the quarter, compared to analysts’ expectations of $12.64 million. MIND Technology had a net margin of 8.81% and a return on equity of 15.85%. During the same quarter last year, the company posted ($0.11) earnings per share.

Hedge Funds Weigh In On MIND Technology

Large investors have recently modified their holdings of the stock. Northern Trust Corp bought a new position in shares of MIND Technology in the fourth quarter valued at about $155,000. Informed Momentum Co LLC bought a new position in MIND Technology during the first quarter worth about $535,000. IFP Advisors Inc increased its position in MIND Technology by 100.0% during the first quarter. IFP Advisors Inc now owns 8,036 shares of the company’s stock worth $48,000 after acquiring an additional 4,018 shares during the period. Squarepoint Ops LLC bought a new position in MIND Technology during the fourth quarter worth about $146,000. Finally, Citadel Advisors LLC bought a new position in MIND Technology during the fourth quarter worth about $264,000. 9.83% of the stock is owned by institutional investors.

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.