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

MIND Technology, Inc. (NASDAQ:MIND) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 43,000 shares, a growth of 654.4% from the September 30th total of 5,700 shares. Based on an average daily volume of 87,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 3.5% of the company’s shares are sold short.

MIND Technology Stock Performance

MIND remained flat at $3.55 during trading on Friday. The company’s stock had a trading volume of 87,275 shares, compared to its average volume of 43,075. MIND Technology has a one year low of $3.05 and a one year high of $6.98. The firm has a market capitalization of $5.01 million, a price-to-earnings ratio of -118.29 and a beta of 1.13. The stock has a 50-day moving average price of $3.78 and a 200 day moving average price of $4.27.

MIND Technology (NASDAQ:MIND) last released its quarterly earnings data on Wednesday, September 11th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). MIND Technology had a net margin of 9.88% and a negative return on equity of 10.38%. The firm had revenue of $10.04 million during the quarter.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of MIND Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 10th.

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.