Why MIND Technology Stock Is Moving Higher Monday

MIND Technology Inc MIND shares are trading higher Monday after the company announced it received an additional order for a GunLink source control system.

The Details: MIND Technology's Seamap unit received another order for a GunLink source control system. The order is valued at approximately $3.1 million and delivery is set for later this fiscal year.

"As expected, we continue to see strong demand from marine survey companies for our Seamap product lines. Our backlog of orders for all our marine technology products totals approximately $22.6 million as of the end of our fiscal quarter ended April 30, 2023," said Rob Capps, president and CEO of MIND Technology.

MIND provides technology to the oceanographic, hydrographic, defense, seismic and security industries. 

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MIND Price Action: MIND Technology shares were up 14.6% at 47 cents at time of publication, according to Benzinga Pro.

This illustration was generated using artificial intelligence via MidJourney.