March 1, 2021

Stock News Alert: MIND Technology (NASDAQ:MIND)

MIND Technology (NASDAQ:MIND) stock observed trading -32.96% off 52-week high price. On the other end, the stock has been noted 240.00% away from low price over the last 52-weeks. The stock disclosed a move of 4.49% away from 50 day moving average and 16.83% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.41% off 20-day moving average. It has market cap of $29.63M.

On Sept. 14, 2020, MIND Technology (NASDAQ:MIND) declared financial results for its fiscal 2021 second quarter ending July 31, 2020.

Revenues from continuing operations for the second quarter of fiscal 2021 were $5.1 million compared to $3.2 million in the first quarter of fiscal 2021 and $6.8 million in the second quarter of fiscal 2020.  The year-over-year decline was primarily attributable to the impact of COVID restrictions, which caused shipment delays from the Company’s Seamap business and a temporary shutdown of production facilities.

During the second quarter of fiscal 2021, as part of the Company’s rebranding process and strategic changes, management and the board of directors determined to exit the land seismic leasing business within twelve months of July 31, 2020.  Accordingly, the Equipment Leasing segment has been treated as discontinued operations and the associated results are excluded from the Company’s results from continuing operations for all periods presented.  Assets and liabilities associated with the Equipment Leasing segment have been reclassified as held for sale in the accompanying consolidated condensed balance sheet.

The USA based company MIND Technology moved with change of 2.15% to $2.38 with the total traded volume of 80952 shares in recent session versus to an average volume of 138.75K. The stock was observed in the 5 days activity at -1.24%. The one month performance of stock was 6.73%. MIND’s shares are at 7.69% for the quarter and driving a -31.01% return over the course of the past year and is now at -17.07% since this point in 2018.  Right now the stock beta is 2.07. The average volatility for the week and month was at 6.51% and 6.23% respectively. There are 12.17M shares outstanding and 11.41M shares are floated in market.