Short Interest in MIND Technology, Inc. (NASDAQ:MIND) Decreases By 26.2%

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

Hedge Funds Weigh In On MIND Technology

A number of large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc bought a new stake in shares of MIND Technology in the 4th quarter valued at about $32,000. Virtu Financial LLC acquired a new stake in shares of MIND Technology during the third quarter worth $43,000. XTX Topco Ltd acquired a new position in shares of MIND Technology in the 4th quarter valued at $114,000. Brighton Jones LLC purchased a new position in shares of MIND Technology in the fourth quarter worth about $138,000. Finally, Squarepoint Ops LLC acquired a new stake in MIND Technology during the 4th quarter valued at approximately $146,000. 9.83% of the stock is currently owned by institutional investors.

MIND Technology Stock Performance

MIND Technology stock traded down $0.03 during midday trading on Tuesday, hitting $5.97. 84,390 shares of the company’s stock were exchanged, compared to its average volume of 162,985. MIND Technology has a 12 month low of $3.05 and a 12 month high of $11.10. The company has a market cap of $8.39 million, a PE ratio of 1.92 and a beta of 0.94. The firm has a 50-day moving average of $8.16 and a two-hundred day moving average of $6.05.

Analyst Ratings Changes

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

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.