Short Interest in MIND Technology, Inc. (NASDAQ:MIND) Drops By 26.2%

MIND Technology, Inc. (NASDAQ:MIND) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 247,300 shares, a decline of 26.2% from the February 28th total of 334,900 shares. Currently, 3.2% of the company’s shares are short sold. Based on an average daily volume of 338,000 shares, the short-interest ratio is currently 0.7 days.

Analyst Ratings Changes

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 Technology stock traded up $0.11 during midday trading on Monday, hitting $6.00. 161,825 shares of the company’s stock were exchanged, compared to its average volume of 162,677. MIND Technology has a 12 month low of $3.05 and a 12 month high of $11.10. The company has a market cap of $8.44 million, a PE ratio of 1.93 and a beta of 0.94. The firm has a 50-day moving average of $8.19 and a two-hundred day moving average of $6.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc purchased a new stake in shares of MIND Technology during the fourth quarter valued at about $32,000. Virtu Financial LLC purchased a new stake in MIND Technology during the third quarter valued at approximately $43,000. XTX Topco Ltd purchased a new stake in MIND Technology during the fourth quarter valued at approximately $114,000. Brighton Jones LLC purchased a new position in MIND Technology in the fourth quarter worth $138,000. Finally, Squarepoint Ops LLC acquired a new position in shares of MIND Technology during the fourth quarter worth $146,000. 9.83% of the stock is currently owned by hedge funds and other 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.