MITCHAM INDUSTR/SH (NASDAQ:MIND) Upgraded by ValuEngine to Buy

MITCHAM INDUSTR/SH (NASDAQ:MIND) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday, ValuEngine reports.

MIND stock opened at $2.12 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.73 and a current ratio of 4.38. The firm has a 50 day simple moving average of $2.32 and a 200 day simple moving average of $3.35. MITCHAM INDUSTR/SH has a 52 week low of $2.10 and a 52 week high of $4.42.

MITCHAM INDUSTR/SH (NASDAQ:MIND) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The company had revenue of $8.90 million for the quarter. MITCHAM INDUSTR/SH had a negative return on equity of 22.40% and a negative net margin of 32.57%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wolverine Trading LLC acquired a new stake in MITCHAM INDUSTR/SH in the second quarter valued at approximately $87,000. Dalton Greiner Hartman Maher & Co. acquired a new stake in MITCHAM INDUSTR/SH in the third quarter valued at approximately $505,000. Teton Advisors Inc. lifted its stake in MITCHAM INDUSTR/SH by 33.3% in the second quarter. Teton Advisors Inc. now owns 200,000 shares of the company’s stock valued at $790,000 after acquiring an additional 49,931 shares during the last quarter. Vanguard Group Inc. lifted its stake in MITCHAM INDUSTR/SH by 8.5% in the second quarter. Vanguard Group Inc. now owns 300,644 shares of the company’s stock valued at $1,187,000 after acquiring an additional 23,500 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in MITCHAM INDUSTR/SH by 1.7% in the second quarter. BlackRock Inc. now owns 333,236 shares of the company’s stock valued at $1,317,000 after acquiring an additional 5,593 shares during the last quarter. Hedge funds and other institutional investors own 74.69% of the company’s stock.

MITCHAM INDUSTR/SH Company Profile

Mitcham Industries, Inc, through its subsidiaries, provides technology to the oceanographic, hydrographic, defense, seismic and maritime security industries worldwide. The company operates in two segments, Marine Technology Products, and Equipment Leasing. The Marine Technology Products segment develops, manufactures, and sells proprietary products.

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