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

MIND Technology, Inc. (NASDAQ:MIND) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 165,700 shares, an increase of 630.0% from the November 30th total of 22,700 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 207,600 shares, the short-interest ratio is currently 0.8 days.

Institutional Investors Weigh In On MIND Technology

An institutional investor recently bought a new position in MIND Technology stock. Virtu Financial LLC purchased a new position in MIND Technology, Inc. (NASDAQ:MIND) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 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 Securities and Exchange Commission. 9.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded MIND Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th.

MIND Technology Price Performance

MIND traded down $0.06 during trading on Thursday, hitting $7.49. 261,367 shares of the stock traded hands, compared to its average volume of 87,050. The business has a 50 day moving average price of $4.45 and a 200 day moving average price of $4.26. MIND Technology has a twelve month low of $3.05 and a twelve month high of $8.18. The company has a market cap of $10.53 million, a price-to-earnings ratio of 2.41 and a beta of 1.18.

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.