Short Interest in MIND Technology, Inc. (NASDAQ:MIND) Grows By 59.8%

MIND Technology, Inc. (NASDAQ:MIND) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 334,900 shares, an increase of 59.8% from the February 13th total of 209,600 shares. Based on an average daily volume of 440,700 shares, the short-interest ratio is presently 0.8 days. Approximately 4.3% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com cut MIND Technology from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th.

MIND Technology Stock Performance

MIND traded up $0.26 during midday trading on Friday, reaching $7.23. 168,568 shares of the company were exchanged, compared to its average volume of 156,681. MIND Technology has a one year low of $3.05 and a one year high of $11.10. The stock has a market capitalization of $10.17 million, a P/E ratio of 2.32 and a beta of 0.94. The stock’s 50-day simple moving average is $8.32 and its 200 day simple moving average is $5.78.

MIND Technology (NASDAQ:MIND) last released its quarterly earnings data on Tuesday, December 10th. The company reported $2.87 earnings per share for the quarter. MIND Technology had a negative return on equity of 104.48% and a net margin of 9.92%.

Hedge Funds Weigh In On MIND Technology

Several institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC bought a new position in shares of MIND Technology during the 4th quarter valued at about $146,000. Citadel Advisors LLC bought a new position in shares of MIND Technology during the 4th quarter valued at about $264,000. Northern Trust Corp bought a new position in shares of MIND Technology during the 4th quarter valued at about $155,000. Marshall Wace LLP bought a new position in shares of MIND Technology during the 4th quarter valued at about $825,000. Finally, XTX Topco Ltd bought a new position in shares of MIND Technology during the 4th quarter valued at about $114,000. Institutional investors own 9.83% of the company’s stock.

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.