Stock of the Day: Could Mitcham Industries, Inc. Crash Even More? The Stock Had Another Big Decline Today

Stock of the Day: Could Mitcham Industries, Inc. Crash Even More? The Stock Had Another Big Decline Today

The stock of Mitcham Industries, Inc. (NASDAQ:MIND) is a huge mover today! About 61,395 shares traded hands or 211.35% up from the average. Mitcham Industries, Inc. (NASDAQ:MIND) has risen 8.59% since April 18, 2016 and is uptrending. It has outperformed by 4.16% the S&P500.
The move comes after 8 months negative chart setup for the $42.01 million company. It was reported on Nov, 18 by We have $2.97 PT which if reached, will make NASDAQ:MIND worth $5.88M less.

Mitcham Industries, Inc. (NASDAQ:MIND) Ratings Coverage

Out of 2 analysts covering Mitcham Industries (NASDAQ:MIND), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Mitcham Industries has been the topic of 3 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock of Mitcham Industries, Inc. (NASDAQ:MIND) has “Hold” rating given on Monday, August 10 by Zacks. Sidoti upgraded Mitcham Industries, Inc. (NASDAQ:MIND) on Wednesday, September 23 to “Buy” rating. The stock has “Neutral” rating given by Seaport Global Securities on Tuesday, November 3.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 0.67 in Q2 2016. Its down 0.58, from 1.25 in 2016Q1. The ratio turned negative, as 5 funds sold all Mitcham Industries, Inc. shares owned while 7 reduced positions. 7 funds bought stakes while 8 increased positions. They now own 7.50 million shares or 1.79% more from 7.37 million shares in 2016Q1.
Rbf Limited Com reported 160,292 shares or 0.12% of all its holdings. Eidelman Virant Capital accumulated 0.03% or 11,550 shares. Vanguard Gp, a Pennsylvania-based fund reported 425,207 shares. Moreover, North Star Invest Mgmt Corporation has 0.07% invested in Mitcham Industries, Inc. (NASDAQ:MIND) for 103,200 shares. Sunbelt has invested 0% of its portfolio in Mitcham Industries, Inc. (NASDAQ:MIND). Shufro Rose & Limited last reported 20,100 shares in the company. Blackrock Institutional Com Na last reported 308,016 shares in the company. California Employees Retirement System last reported 0% of its portfolio in the stock. Walleye Trading Limited Co has invested 0% of its portfolio in Mitcham Industries, Inc. (NASDAQ:MIND). Perritt Cap Management reported 120,400 shares or 0.12% of all its holdings. State Bank Of Mellon, a New York-based fund reported 21,017 shares. Nationwide Fund has 0% invested in the company for 8,142 shares. Blackrock Investment Mngmt Limited Co accumulated 0% or 1,968 shares. Bridgeway has 0.01% invested in the company for 239,700 shares. Prudential Fincl Incorporated holds 0% of its portfolio in Mitcham Industries, Inc. (NASDAQ:MIND) for 28,200 shares.

More important recent Mitcham Industries, Inc. (NASDAQ:MIND) news were published by: which released: “News Mitcham Industries Inc.MIND” on February 11, 2011, also published article titled: “Mitcham Industries Reports Fiscal 2016 Fourth Quarter And Full Year Results”, published: “Mitcham Industries Acquires L-3 Communications Klein Associates” on January 04, 2016. More interesting news about Mitcham Industries, Inc. (NASDAQ:MIND) was released by: and their article: “Mitcham Industries Announces Passing Of Chief Executive Officer Billy F …” with publication date: September 21, 2015.

MIND Company Profile

Mitcham Industries, Inc. (MII), incorporated on January 29, 1987, is engaged in providing equipment to the geophysical, oceanographic and hydrographic industries. The Firm operates through two divisions: Equipment Leasing, and Equipment Manufacturing and Sales. The Firm operates in Salem, New Hampshire; Calgary, Canada; Brisbane, Australia; Singapore; Ufa, Bashkortostan, Russia; Budapest, Hungary; Lima, Peru; Bogota, Colombia, and the United Kingdom.

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