Short Interest in MIND Technology, Inc. (NASDAQ:MIND) Rises By 73.9%

MIND Technology, Inc. (NASDAQ:MIND) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 209,600 shares, an increase of 73.9% from the January 31st total of 120,500 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average trading volume of 407,800 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On MIND Technology

A number of hedge funds have recently bought and sold shares of MIND. Marshall Wace LLP acquired a new position in shares of MIND Technology in the 4th quarter valued at approximately $825,000. Geode Capital Management LLC raised its holdings in MIND Technology by 416.5% in the fourth quarter. Geode Capital Management LLC now owns 86,247 shares of the company’s stock valued at $685,000 after acquiring an additional 69,550 shares in the last quarter. Renaissance Technologies LLC boosted its stake in MIND Technology by 112.0% during the 4th quarter. Renaissance Technologies LLC now owns 124,340 shares of the company’s stock valued at $987,000 after acquiring an additional 65,700 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in MIND Technology during the 4th quarter worth $458,000. Finally, Citadel Advisors LLC bought a new stake in shares of MIND Technology in the 4th quarter worth about $264,000. Institutional investors and hedge funds own 9.83% of the company’s stock.

MIND Technology Trading Down 3.1 %

Shares of NASDAQ MIND traded down $0.23 on Tuesday, reaching $6.99. 112,458 shares of the company traded hands, compared to its average volume of 148,771. The company has a 50 day moving average of $8.46 and a 200 day moving average of $5.62. MIND Technology has a fifty-two week low of $3.05 and a fifty-two week high of $11.10. The stock has a market capitalization of $9.82 million, a PE ratio of 2.25 and a beta of 0.91.

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

Wall Street Analysts Forecast Growth

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

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.