MIND Technology, Inc. (NASDAQ:MIND) Short Interest Down 58.4% in December

MIND Technology, Inc. (NASDAQ:MIND) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 69,000 shares, a drop of 58.4% from the December 15th total of 165,700 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 242,500 shares, the days-to-cover ratio is presently 0.3 days.

MIND Technology Trading Up 11.3 %

NASDAQ MIND traded up $0.78 on Monday, hitting $7.70. 343,044 shares of the company were exchanged, compared to its average volume of 255,340. The company has a market cap of $10.83 million, a P/E ratio of 2.48 and a beta of 0.90. MIND Technology has a 1-year low of $3.05 and a 1-year high of $8.55. The firm has a 50 day moving average of $5.39 and a two-hundred day moving average of $4.53.

Institutional Trading of MIND Technology

A hedge fund recently bought a new stake in MIND Technology stock. Virtu Financial LLC purchased a new stake in shares of MIND Technology, Inc. (NASDAQ:MIND) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,104 shares of the company’s stock, valued at approximately $43,000. Virtu Financial LLC owned about 0.79% of MIND Technology as of its most recent filing with the Securities and Exchange Commission (SEC). 9.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.