MIND Technology, Inc. (NASDAQ:MIND) Sees Large Decrease in Short Interest

MIND Technology, Inc. (NASDAQ:MIND) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 42,800 shares, a drop of 44.0% from the August 31st total of 76,400 shares. Based on an average daily trading volume, of 97,900 shares, the short-interest ratio is presently 0.4 days. Currently, 3.5% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of MIND Technology from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th.

MIND Technology Stock Down 1.0 %

Shares of MIND Technology stock traded down $0.04 during midday trading on Thursday, hitting $3.86. The company had a trading volume of 84,564 shares, compared to its average volume of 42,203. The stock has a market cap of $5.44 million, a price-to-earnings ratio of -2.25 and a beta of 1.13. The company has a fifty day simple moving average of $4.18 and a 200 day simple moving average of $4.46. MIND Technology has a 12-month low of $3.05 and a 12-month high of $7.83.

MIND Technology (NASDAQ:MIND) last posted its quarterly earnings results on Wednesday, September 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). MIND Technology had a negative return on equity of 10.38% and a net margin of 9.88%. The business had revenue of $10.04 million for the quarter.

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.