MIND C.T.I. Ltd. (NASDAQ:MNDO) Stock Short Interest Climbs 76.8%

by · The Markets Daily

MIND C.T.I. Ltd. (NASDAQ:MNDO – Get Free Report) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 16,690 shares, an increase of 76.8% from the September 30th total of 9,442 shares. Based on an average daily volume of 34,802 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of MIND C.T.I.

A hedge fund recently bought a new position in MIND C.T.I. stock. Renaissance Technologies LLC purchased a new stake in MIND C.T.I. Ltd. (NASDAQ:MNDO – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 22,474 shares of the information technology services provider’s stock, valued at approximately $26,000. Renaissance Technologies LLC owned approximately 0.11% of MIND C.T.I. as of its most recent filing with the Securities and Exchange Commission (SEC). 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of MIND C.T.I. from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has an average rating of “Sell”.

Read Our Latest Stock Report on MIND C.T.I.

MIND C.T.I. Trading Up 0.7%

MNDO stock traded up $0.01 during trading on Friday, hitting $0.89. The company had a trading volume of 25,487 shares, compared to its average volume of 31,497. The company has a fifty day moving average price of $0.98 and a two-hundred day moving average price of $1.05. The company has a market cap of $17.92 million, a P/E ratio of 5.55 and a beta of 0.40. MIND C.T.I. has a fifty-two week low of $0.85 and a fifty-two week high of $1.29.

MIND C.T.I. (NASDAQ:MNDO – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter. MIND C.T.I. had a return on equity of 14.09% and a net margin of 16.87%. The firm had revenue of $4.61 million during the quarter.

MIND C.T.I. Company Profile

(Get Free Report)

MIND C.T.I. Ltd. is an Israel-based provider of software solutions for communications service providers. The company develops systems designed to support telecommunications operators with billing, customer care, service management and related operational processes.

Its offerings have included solutions for prepaid and postpaid billing, rating, mediation, revenue management and customer relationship management. These tools are intended to help fixed-line, mobile, broadband and other communications providers manage subscribers, configure services, process usage data and automate charging and account-support functions.

MIND C.T.I.

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