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

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

MIND Technology Stock Performance

NASDAQ:MIND opened at $8.19 on Friday. MIND Technology has a 52 week low of $3.47 and a 52 week high of $11.50. The firm has a market cap of $65.27 million, a price-to-earnings ratio of 2.53 and a beta of 0.66. The firm’s 50-day simple moving average is $9.20 and its 200 day simple moving average is $7.48.

MIND Technology (NASDAQ:MIND) last released its quarterly earnings results on Tuesday, September 9th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $12.64 million. During the same period last year, the firm earned ($0.11) earnings per share.

Hedge Funds Weigh In On MIND Technology

Hedge funds have recently bought and sold shares of the company. Northern Trust Corp bought a new position in MIND Technology in the 4th quarter valued at about $155,000. Informed Momentum Co LLC bought a new position in MIND Technology in the 1st quarter valued at about $535,000. IFP Advisors Inc increased its holdings in MIND Technology by 100.0% in the 1st quarter. IFP Advisors Inc now owns 8,036 shares of the company’s stock valued at $48,000 after buying an additional 4,018 shares during the period. Squarepoint Ops LLC bought a new position in MIND Technology in the 4th quarter valued at about $146,000. Finally, Citadel Advisors LLC bought a new position in MIND Technology in the 4th quarter valued at about $264,000. 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.