MIND Technology (NASDAQ:MIND) Issues Earnings Results, Misses Expectations By $0.34 EPS
by Amy Steele · The Cerbat GemMIND Technology (NASDAQ:MIND – Get Free Report) issued its earnings results on Wednesday. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.34), FiscalAI reports. The business had revenue of $9.80 million for the quarter, compared to the consensus estimate of $14.65 million. MIND Technology had a return on equity of 9.95% and a net margin of 6.61%.
MIND Technology Stock Down 0.5%
NASDAQ:MIND traded down $0.04 during trading hours on Wednesday, reaching $8.71. 193,183 shares of the company’s stock were exchanged, compared to its average volume of 163,223. The company has a market capitalization of $78.74 million, a P/E ratio of 22.92 and a beta of 0.54. MIND Technology has a 12 month low of $4.75 and a 12 month high of $14.50. The business’s 50-day simple moving average is $8.30 and its two-hundred day simple moving average is $9.30.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “hold (c)” rating on shares of MIND Technology in a report on Monday, March 23rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.
Read Our Latest Analysis on MIND Technology
Institutional Trading of MIND Technology
A number of large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC acquired a new position in MIND Technology in the 4th quarter worth approximately $138,000. Geode Capital Management LLC boosted its stake in MIND Technology by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 89,550 shares of the company’s stock worth $756,000 after purchasing an additional 1,518 shares during the period. Commonwealth Equity Services LLC acquired a new position in MIND Technology in the 4th quarter worth approximately $482,000. Evergreen Capital Management LLC acquired a new position in MIND Technology in the 2nd quarter worth approximately $414,000. Finally, Citadel Advisors LLC acquired a new position in MIND Technology in the 3rd quarter worth approximately $340,000. 9.83% of the stock is currently 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.