MIND C.T.I. Ltd. (NASDAQ:MNDO) Sees Significant Increase in Short Interest

MIND C.T.I. Ltd. (NASDAQ:MNDO – Get Free Report) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 19,072 shares, an increase of 437.1% from the July 30th total of 3,551 shares. Based on an average daily volume of 56,472 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

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MIND C.T.I. Price Performance

MNDO traded up $0.02 on Thursday, hitting $1.01. The company had a trading volume of 8,341 shares, compared to its average volume of 48,197. The stock has a market cap of $20.38 million, a price-to-earnings ratio of 6.31 and a beta of 0.38. The company’s fifty day moving average price is $1.02 and its 200 day moving average price is $1.06. MIND C.T.I. has a 1-year low of $0.85 and a 1-year high of $1.29.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MNDO. Glenorchy Capital Ltd grew its position in shares of MIND C.T.I. by 9.1% in the second quarter. Glenorchy Capital Ltd now owns 273,791 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 22,808 shares during the last quarter. Jane Street Group LLC bought a new position in shares of MIND C.T.I. in the first quarter worth about $37,000. Finally, Renaissance Technologies LLC acquired a new position in shares of MIND C.T.I. during the 1st quarter worth about $26,000. Institutional investors and hedge funds own 24.32% of the company’s stock.

About MIND C.T.I.

(Get Free Report)

MIND C.T.I. Ltd. is a provider of operations support systems (OSS) and network automation solutions for telecommunications service providers and cable operators. The company’s product portfolio includes service fulfillment, inventory and resource management, trouble ticketing, network monitoring, mediation, revenue assurance and analytics modules. By integrating these modules through a unified platform, MIND C.T.I. enables service providers to streamline service activation, reduce manual intervention, improve network visibility and drive operational efficiencies.

Founded in 1990 and headquartered in Tel Aviv, Israel, MIND C.T.I.

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