10 Best Micro Cap Stocks to Buy Now

6. MIND Technology, Inc. (NASDAQ:MIND)

Market Capitalization: $58.894 million

Mind Technology, Inc. (NASDAQ:MIND) is a technology and solution provider for exploration, survey, and defense applications in oceanographic, hydrographic, defense, seismic, and security industries. Formed in 1987 and headquartered in Texas, USA, the company has two product lines, Klein Marine Products and Seamap Marine Products. With the Klein Marine segment sold to General Oceans in August 2024 for $11.5 million, the revenue is generally obtained from the Seamap Marine product line. Among the core offerings of the company are GunLink seismic source and control systems, BuoyLink RGPS tracking system, and Seamap Sleeve Gun.

Over the past year, the stock has delivered returns of 20%, much of which has to be attributed to a strong backlog and pipeline of orders. With a strong demand outlook in the marine industry, we are optimistic about the future of Mind Technology, Inc. (NASDAQ:MIND).

The company is seeking ways to expand its market share by developing innovative ways to shape its technology to meet the evolving needs of its customers. A testament to this approach is the sales and inquiries surrounding SeaLink streamer systems. Through the sale of Klein, Mind Technology, Inc. (NASDAQ:MIND) didn’t just make the transaction but it secured the future. In its deal with General Oceans, the company licensed its Spectral Ai software suite for applications like side-scan sonar. This is a strategic move to expand the market for Spectral Ai, and although the revenue stream has been somewhat limited, MIND is now gaining traction.

Mind Technology, Inc. (NASDAQ:MIND) started Q4 2024 with a robust backlog of $26 million, a figure much above the historical standards. With this surge in order flow and activity, a considerable volume will be completed and shipped in the current year. Moreover, the company has a significant stream of pending and potential orders, anticipated to be twice the size of the current backlog, that will fuel the growth into FY26.

While the highest price target for MIND is expected to be $14.16, the lowest stands at $5.13. According to analysts at CNN Business, the stock has a strong likelihood to outperform the market.