Mitcham Industries (MIND) Falls: Stock Tanks 13% – Tale of the Tape

Zacks

Mitcham Industries Inc. (MIND) saw a big move last session, as the company’s shares fell more than 13% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for MIND, as the stock is now down around 17.3% since August 13, 2014.

The company has seen a flat track record when it comes to current year estimate revisions over the past few weeks. The consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

Some better-ranked stocks in the Basic Materials sector include Cameron International Corporation (CAM), PowerSecure International, Inc. (POWR) and Superior Energy Services, Inc. (SPN). While Cameron International and PowerSecure International carry a Zacks Rank #1 (Strong Buy), Superior Energy Services holds a Zacks Rank #2(Buy).

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