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

MIND C.T.I. Ltd. (NASDAQ:MNDO) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 9,442 shares, a drop of 37.6% from the September 15th total of 15,141 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 18,561 shares, the short-interest ratio is presently 0.5 days.

MIND C.T.I. Stock Performance

MNDO stock traded up $0.01 during midday trading on Friday, reaching $0.93. The company’s stock had a trading volume of 13,502 shares, compared to its average volume of 29,130. The stock has a fifty day simple moving average of $1.00 and a two-hundred day simple moving average of $1.01. MIND C.T.I. has a 1 year low of $0.85 and a 1 year high of $1.29. The firm has a market capitalization of $18.77 million, a price-to-earnings ratio of 5.81 and a beta of 0.40.

MIND C.T.I. (NASDAQ:MNDO) last released its earnings results on Thursday, August 6th. The information technology services provider reported $0.04 earnings per share for the quarter. MIND C.T.I. had a return on equity of 14.09% and a net margin of 16.87%. The business had revenue of $4.61 million during the quarter.

Institutional Trading of MIND C.T.I.

An institutional investor 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) in the first quarter, according to the company in its most recent filing 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 0.11% of MIND C.T.I. as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 24.32% of the company’s stock.

Analyst Ratings Changes

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

About MIND C.T.I.

MIND C.T.I. Ltd. is an Israeli software company that develops billing, customer care and operational support solutions for communications service providers. Its technology is designed for wireless, wireline, broadband, voice-over-internet-protocol (VoIP) and other telecommunications businesses.

The company’s solutions support functions such as convergent and real-time billing, account management, rating, invoicing, usage tracking and customer service. Its software is intended to help communications providers manage subscribers and monetize voice, data and other telecommunications services through integrated business-support systems.

MIND C.T.I.