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

MIND Technology, Inc. (NASDAQ:MIND) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 334,900 shares, a growth of 59.8% from the February 13th total of 209,600 shares. Based on an average daily volume of 440,700 shares, the short-interest ratio is currently 0.8 days. Approximately 4.3% of the company’s shares are sold short.

MIND Technology Stock Down 7.8 %

Shares of NASDAQ:MIND traded down $0.56 on Monday, hitting $6.67. 70,100 shares of the company traded hands, compared to its average volume of 156,372. The stock has a 50 day simple moving average of $8.32 and a 200-day simple moving average of $5.80. The company has a market cap of $9.37 million, a PE ratio of 2.14 and a beta of 0.94. MIND Technology has a 52 week low of $3.05 and a 52 week high of $11.10.

Institutional Investors Weigh In On MIND Technology

Large investors have recently bought and sold shares of the business. Marshall Wace LLP purchased a new position in shares of MIND Technology in the 4th quarter worth $825,000. Geode Capital Management LLC grew its stake in shares of MIND Technology by 416.5% during the 4th quarter. Geode Capital Management LLC now owns 86,247 shares of the company’s stock valued at $685,000 after purchasing an additional 69,550 shares during the period. Renaissance Technologies LLC increased its position in shares of MIND Technology by 112.0% during the 4th quarter. Renaissance Technologies LLC now owns 124,340 shares of the company’s stock valued at $987,000 after purchasing an additional 65,700 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of MIND Technology in the 4th quarter worth approximately $458,000. Finally, Citadel Advisors LLC purchased a new position in shares of MIND Technology in the fourth quarter worth approximately $264,000. 9.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of MIND Technology from a “buy” rating to a “hold” rating in a 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.