MITCHAM INDUSTR/SH (NASDAQ:MIND) Sees Significant Increase in Short Interest

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MITCHAM INDUSTR/SH (NASDAQ:MIND) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totalling 132,900 shares, an increase of 73.7% from the May 14th total of 76,500 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 149,800 shares, the short-interest ratio is currently 0.9 days.

NASDAQ:MIND traded down $0.10 on Thursday, hitting $1.81. The stock had a trading volume of 1,860 shares, compared to its average volume of 95,725. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.06 and a current ratio of 3.63. The stock has a market cap of $22.90 million, a P/E ratio of -1.57 and a beta of 1.85. MITCHAM INDUSTR/SH has a 1 year low of $0.70 and a 1 year high of $4.42. The firm’s fifty day simple moving average is $1.15 and its two-hundred day simple moving average is $1.99.

MITCHAM INDUSTR/SH (NASDAQ:MIND) last posted its quarterly earnings data on Tuesday, April 21st. The company reported ($0.29) EPS for the quarter. The firm had revenue of $13.26 million during the quarter. MITCHAM INDUSTR/SH had a negative net margin of 26.45% and a negative return on equity of 34.52%.

A number of large investors have recently bought and sold shares of the business. White Pine Capital LLC increased its stake in MITCHAM INDUSTR/SH by 73.4% in the 1st quarter. White Pine Capital LLC now owns 523,145 shares of the company’s stock valued at $654,000 after buying an additional 221,425 shares during the last quarter. Ariel Investments LLC increased its stake in MITCHAM INDUSTR/SH by 1.4% in the 4th quarter. Ariel Investments LLC now owns 2,872,310 shares of the company’s stock valued at $8,244,000 after buying an additional 39,768 shares during the last quarter. Finally, PEAK6 Investments LLC increased its stake in MITCHAM INDUSTR/SH by 113.6% in the 4th quarter. PEAK6 Investments LLC now owns 62,748 shares of the company’s stock valued at $180,000 after buying an additional 33,374 shares during the last quarter. Hedge funds and other institutional investors own 70.18% of the company’s stock.

About MITCHAM INDUSTR/SH

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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