Approach Resources, Inc. (AREX) Reaches $2.76 After 8.00% Up Move; Mitcham Industries (MIND) Sentiment Is 1.08

April 17, 2018 - By Hazel Jackson

Mitcham Industries, Inc. (NASDAQ:MIND) Logo

The stock of Approach Resources, Inc. (NASDAQ:AREX) is a huge mover today! The stock increased 2.99% or $0.08 during the last trading session, reaching $2.76. About 228,960 shares traded. Approach Resources, Inc. (NASDAQ:AREX) has risen 10.57% since April 17, 2017 and is uptrending. It has underperformed by 0.98% the S&P500.The move comes after 9 months positive chart setup for the $251.24 million company. It was reported on Apr, 17 by Barchart.com. We have $2.98 PT which if reached, will make NASDAQ:AREX worth $20.10 million more.

Mitcham Industries Inc (MIND) investors sentiment increased to 1.08 in 2017 Q4. It’s up 0.08, from 1 in 2017Q3. The ratio improved, as 14 investment professionals started new or increased holdings, while 13 cut down and sold their positions in Mitcham Industries Inc. The investment professionals in our database reported: 8.01 million shares, up from 7.94 million shares in 2017Q3. Also, the number of investment professionals holding Mitcham Industries Inc in top ten holdings decreased from 1 to 0 for a decrease of 1. Sold All: 2 Reduced: 11 Increased: 6 New Position: 8.

Mitcham Industries, Inc., through its subsidiaries, leases, sells, and services equipment to the geophysical, oceanographic, and hydrographic industries worldwide. The company has market cap of $37.47 million. The firm operates in two divisions, Equipment Leasing, and Equipment Manufacturing and Sales. It currently has negative earnings. The Equipment Leasing segment leases seismic equipment for short-term primarily to seismic data acquisition contractors and oil field service providers.

The stock increased 1.64% or $0.05 during the last trading session, reaching $3.1. About 5,210 shares traded. Mitcham Industries, Inc. (MIND) has declined 21.89% since April 17, 2017 and is downtrending. It has underperformed by 33.44% the S&P500.

Aegis Financial Corp holds 3.9% of its portfolio in Mitcham Industries, Inc. for 837,737 shares. First Wilshire Securities Management Inc owns 345,094 shares or 0.3% of their US portfolio. Moreover, Vnbtrust National Association has 0.2% invested in the company for 110,704 shares. The Illinois-based Perritt Capital Management Inc has invested 0.12% in the stock. Ariel Investments Llc, a Illinois-based fund reported 3.00 million shares.

Since December 4, 2017, it had 5 insider buys, and 0 insider sales for $6.53 million activity. $1.43 million worth of Approach Resources, Inc. (NASDAQ:AREX) was bought by Wilks Brothers – LLC on Thursday, December 14.

Investors sentiment increased to 1.54 in 2017 Q4. Its up 0.37, from 1.17 in 2017Q3. It is positive, as 8 investors sold Approach Resources, Inc. shares while 18 reduced holdings. 14 funds opened positions while 26 raised stakes. 19.88 million shares or 4.78% less from 20.88 million shares in 2017Q3 were reported. Goldman Sachs Group, a New York-based fund reported 187,294 shares. Northern Trust has 488,080 shares. Bridgeway invested in 785,500 shares or 0.03% of the stock. Brandywine Mngmt Lc holds 0% or 32,800 shares. Columbia Pacific Advisors Limited holds 0.54% or 123,193 shares in its portfolio. Hodges Capital has 10,000 shares for 0% of their portfolio. Rhumbline Advisers reported 39,950 shares or 0% of all its holdings. Centerbridge Prns Lp stated it has 308,755 shares or 0.1% of all its holdings. Bankshares Of Montreal Can holds 0% or 20,303 shares in its portfolio. Ameritas Invest has 0% invested in Approach Resources, Inc. (NASDAQ:AREX) for 3,777 shares. Invesco Limited invested 0% in Approach Resources, Inc. (NASDAQ:AREX). Boston holds 0% or 501,260 shares in its portfolio. Citadel Advisors Limited Liability Corporation holds 0% or 77,012 shares. 2.05M are held by New Generation Lc. First Manhattan Communication invested in 0.01% or 772,357 shares.

Approach Resources, Inc., an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional gas and oil reserves in the United States. The company has market cap of $251.24 million. The companyÂ’s properties are primarily located in the Permian Basin in west Texas. It currently has negative earnings. It also owns interests in east Texas Basin.

Analysts await Approach Resources, Inc. (NASDAQ:AREX) to report earnings on May, 3. They expect $-0.05 EPS, up 54.55% or $0.06 from last year’s $-0.11 per share. After $-0.07 actual EPS reported by Approach Resources, Inc. for the previous quarter, Wall Street now forecasts -28.57% EPS growth.

Mitcham Industries, Inc. (NASDAQ:MIND) Institutional Positions Chart

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By1 Hazel Jackson

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