MIND Technology (NASDAQ:MIND) Cut to “Hold” at StockNews.com

MIND Technology (NASDAQ:MIND) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

MIND Technology Stock Performance

Shares of MIND opened at $7.44 on Wednesday. MIND Technology has a 1 year low of $3.05 and a 1 year high of $7.46. The company’s 50 day simple moving average is $4.13 and its 200 day simple moving average is $4.19. The company has a market capitalization of $10.46 million, a price-to-earnings ratio of 2.39 and a beta of 1.18.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MIND Technology stock. Virtu Financial LLC bought a new position in shares of MIND Technology, Inc. (NASDAQ:MIND) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 11,104 shares of the company’s stock, valued at approximately $43,000. Virtu Financial LLC owned 0.79% of MIND Technology as of its most recent filing with the SEC. Hedge funds and other institutional investors own 9.83% of the company’s stock.

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.