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

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

MIND Technology Stock Performance

Shares of MIND opened at $5.89 on Friday. The firm’s 50 day moving average price is $8.19 and its two-hundred day moving average price is $6.02. MIND Technology has a twelve month low of $3.05 and a twelve month high of $11.10. The firm has a market cap of $8.28 million, a P/E ratio of 1.89 and a beta of 0.94.

Institutional Investors Weigh In On MIND Technology

Several institutional investors have recently added to or reduced their stakes in MIND. Squarepoint Ops LLC bought a new stake in shares of MIND Technology in the fourth quarter valued at about $146,000. Citadel Advisors LLC bought a new stake in MIND Technology in the 4th quarter valued at approximately $264,000. Northern Trust Corp acquired a new position in MIND Technology during the 4th quarter worth approximately $155,000. Marshall Wace LLP acquired a new position in MIND Technology during the 4th quarter worth approximately $825,000. Finally, XTX Topco Ltd acquired a new stake in shares of MIND Technology in the fourth quarter valued at approximately $114,000. 9.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered 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.