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

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

MIND Technology Price Performance

Shares of MIND Technology stock traded up $0.11 during trading on Monday, reaching $6.00. 161,825 shares of the stock traded hands, compared to its average volume of 162,677. The company has a market capitalization of $8.44 million, a price-to-earnings ratio of 1.93 and a beta of 0.94. MIND Technology has a 52-week low of $3.05 and a 52-week high of $11.10. The business has a fifty day simple moving average of $8.19 and a two-hundred day simple moving average of $6.03.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On MIND Technology

A number of hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new stake in MIND Technology during the fourth quarter worth approximately $146,000. Citadel Advisors LLC bought a new position in shares of MIND Technology during the 4th quarter valued at approximately $264,000. Northern Trust Corp purchased a new stake in MIND Technology during the 4th quarter valued at $155,000. Marshall Wace LLP bought a new stake in MIND Technology in the fourth quarter worth $825,000. Finally, XTX Topco Ltd purchased a new position in MIND Technology during the fourth quarter worth $114,000. Hedge funds and other institutional investors own 9.83% of the company’s stock.

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.