MIND Technology Inc MIND is trading higher Tuesday after the company announced it entered into a Cooperative Research and Development Agreement with the United States Navy's Naval Surface Warfare Center, Panama City Division.
The agreement titled, "Advanced Mine Finding," will allow scientists and engineers from the company and the U.S. Navy to collaborate on optimizing the next generation of mine-hunting sonar systems.
"Through our subsidiary, Klein Marine Systems, MIND has a long history of supporting the U.S. Navy. I'm thrilled that this CRADA will allow us to leverage the expertise of the scientists and engineers at NSWC PCD to provide innovative solutions to the warfighter, now and into the future," said Andy Meecham, chief technology officer of MIND Technology.
MIND Technology provides technology and solutions for exploration, survey, and defense applications in oceanographic, hydrographic, defense, seismic and security industries.
From Last Week: MIND Technology: Q3 Earnings Insights
MIND Price Action: MIND Technology has traded as high as $3.29 and as low as $1.36 over a 52-week period.
The stock was up 23.40% at $1.69 at time of publication.
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