Mitcham Industries, Inc. (MIND) Raised to Hold at Zacks Investment Research

Mitcham Industries, Inc. (NASDAQ:MIND) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “MITCHAM INDUSTRIES, INC. specializes in the leasing and sale of seismic equipment to the oil and gas industry. Co. provides short-term leasing of peripheral seismic equipement to meet a customer’s requirements, as well as offering maintenance and support during the lease term. Co. leases its seismic equipment primarily to land-based seismic data acquisition companies and major oil and gas exploration companies conducting seismic data acquisition surveys in North and South America. Co. also sells and services new and used seismic data acquisition systems and peripheral equipment to companies. “

Mitcham Industries (NASDAQ:MIND) opened at 4.65 on Tuesday. The stock’s market cap is $56.14 million. The firm has a 50-day moving average price of $4.51 and a 200 day moving average price of $3.59. Mitcham Industries has a 52-week low of $2.33 and a 52-week high of $5.14.

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An institutional investor recently raised its position in Mitcham Industries stock. Renaissance Technologies LLC increased its stake in shares of Mitcham Industries, Inc. (NASDAQ:MIND) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 209,100 shares of the company’s stock after buying an additional 13,300 shares during the period. Renaissance Technologies LLC owned about 1.73% of Mitcham Industries worth $868,000 at the end of the most recent reporting period. 60.55% of the stock is owned by institutional investors.

Mitcham Industries Company Profile

Mitcham Industries, Inc is a provider of equipment to the geophysical, oceanographic and hydrographic industries. The Company operates through two segments. The Equipment Leasing segment is primarily engaged in the leasing of seismic equipment to companies in the oil and gas industry across the world.

5 Day Chart for NASDAQ:MIND

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