Price Action Don’t Lie: What’s in Mitcham Industries, Inc. After Today’s Big Increase?

Price Action Don't Lie: What's in Mitcham Industries, Inc. After Today's Big Increase?

The stock of Mitcham Industries, Inc. (NASDAQ:MIND) is a huge mover today! About 115,467 shares traded hands or 345.72% up from the average. Mitcham Industries, Inc. (NASDAQ:MIND) has declined 4.64% since April 27, 2016 and is downtrending. It has underperformed by 9.87% the S&P500.
The move comes after 6 months positive chart setup for the $43.93 million company. It was reported on Nov, 30 by Barchart.com. We have $3.98 PT which if reached, will make NASDAQ:MIND worth $2.20M more.

Analysts await Mitcham Industries, Inc. (NASDAQ:MIND) to report earnings on December, 7 after the close. They expect $-0.38 EPS, down 8.57% or $0.03 from last year’s $-0.35 per share. After $-0.80 actual EPS reported by Mitcham Industries, Inc. for the previous quarter, Wall Street now forecasts -52.50% EPS growth.

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 firm has “Buy” rating given on Wednesday, September 23 by Sidoti. The firm earned “Hold” rating on Monday, August 10 by Zacks. 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.
Blackrock Institutional Tru Na holds 0% of its portfolio in Mitcham Industries, Inc. (NASDAQ:MIND) for 308,016 shares. Dimensional Fund Advisors Limited Partnership last reported 965,237 shares in the company. Moreover, Blackrock Advsr Ltd Limited Liability Company has 0% invested in Mitcham Industries, Inc. (NASDAQ:MIND) for 4,047 shares. Ariel Investments Ltd Liability Co accumulated 3.01M shares or 0.14% of the stock. The Minnesota-based Walleye Trading has invested 0% in Mitcham Industries, Inc. (NASDAQ:MIND). Federated Invsts Pa last reported 0% of its portfolio in the stock. Financial Bank Of Mellon Corp owns 21,017 shares or 0% of their US portfolio. Rbf Capital Limited Com accumulated 160,292 shares or 0.12% of the stock. Bridgeway last reported 0.01% of its portfolio in the stock. Manufacturers Life Ins Company The reported 521 shares or 0% of all its holdings. North Star reported 103,200 shares or 0.07% of all its holdings. Vanguard Inc holds 0% of its portfolio in Mitcham Industries, Inc. (NASDAQ:MIND) for 425,207 shares. Virginia Retirement Systems Et Al holds 0% or 20,500 shares in its portfolio. Renaissance Technologies Lc has 190,300 shares for 0% of their US portfolio. Deutsche Bancorporation Ag holds 0% or 32,002 shares in its portfolio.

More news for Mitcham Industries, Inc. (NASDAQ:MIND) were recently published by: Prnewswire.com, which released: “Mitcham Industries Acquires L-3 Communications Klein Associates” on January 04, 2016. Prnewswire.com‘s article titled: “Mitcham Industries Reports Fiscal 2016 Fourth Quarter And Full Year Results” and published on April 05, 2016 is yet another important article.

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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