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

MIND C.T.I. Ltd. (NASDAQ:MNDO) saw a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 25,468 shares, an increase of 616.4% from the May 14th total of 3,555 shares. Based on an average daily volume of 46,469 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in shares of MIND C.T.I. during the 1st quarter valued at about $26,000. Signal Advisors Wealth LLC purchased a new stake in shares of MIND C.T.I. during the 4th quarter valued at approximately $41,000. Glenorchy Capital Ltd raised its position in shares of MIND C.T.I. by 9.1% during the 2nd quarter. Glenorchy Capital Ltd now owns 273,791 shares of the information technology services provider’s stock valued at $375,000 after buying an additional 22,808 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of MIND C.T.I. during the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 24.32% of the company’s stock.

MIND C.T.I. Stock Up 0.2%

MNDO traded up $0.00 during trading on Wednesday, reaching $0.98. The company’s stock had a trading volume of 5,504 shares, compared to its average volume of 37,486. The firm has a fifty day simple moving average of $1.02 and a two-hundred day simple moving average of $1.13. MIND C.T.I. has a 1 year low of $0.85 and a 1 year high of $1.52. The company has a market cap of $19.88 million, a price-to-earnings ratio of 6.97 and a beta of 0.40.

MIND C.T.I. (NASDAQ:MNDO) last released its earnings results on Monday, May 11th. The information technology services provider reported $0.04 earnings per share for the quarter. The business had revenue of $5.09 million for the quarter. MIND C.T.I. had a net margin of 15.26% and a return on equity of 13.20%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of MIND C.T.I. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

MIND C.T.I. Company Profile

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.