Wall Street Zen Downgrades MIND Technology (NASDAQ:MIND) to Buy

MIND Technology (NASDAQ:MIND) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.

MIND Technology Price Performance

Shares of NASDAQ:MIND opened at $8.17 on Friday. The company has a market capitalization of $65.11 million, a price-to-earnings ratio of 2.52 and a beta of 0.66. The business’s 50-day moving average is $9.22 and its 200-day moving average is $7.50. MIND Technology has a 1 year low of $3.47 and a 1 year high of $11.50.

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

Hedge Funds Weigh In On MIND Technology

Several institutional investors have recently modified their holdings of MIND. Raymond James Financial Inc. bought a new position in shares of MIND Technology in the second quarter valued at approximately $33,000. IFP Advisors Inc grew its holdings in MIND Technology by 100.0% during the first quarter. IFP Advisors Inc now owns 8,036 shares of the company’s stock valued at $48,000 after purchasing an additional 4,018 shares during the period. Evernest Financial Advisors LLC bought a new position in MIND Technology during the second quarter valued at $127,000. ARS Wealth Advisors Group LLC purchased a new stake in shares of MIND Technology during the second quarter worth $127,000. Finally, Brighton Jones LLC purchased a new stake in shares of MIND Technology during the fourth quarter worth $138,000. 9.83% of the stock is owned by institutional investors.

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.