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

MIND C.T.I. Ltd (NASDAQ:MNDO) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 9,800 shares, a growth of 4,800.0% from the December 31st total of 200 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 22,000 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On MIND C.T.I.

A hedge fund recently raised its stake in MIND C.T.I. stock. Glenorchy Capital Ltd raised its holdings in MIND C.T.I. Ltd (NASDAQ:MNDO) by 13.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 260,783 shares of the information technology services provider’s stock after buying an additional 31,544 shares during the quarter. Glenorchy Capital Ltd owned 1.30% of MIND C.T.I. worth $514,000 as of its most recent SEC filing. 24.32% of the stock is currently owned by institutional investors.

MIND C.T.I. Price Performance

Shares of NASDAQ:MNDO opened at $2.11 on Wednesday. The company has a market capitalization of $42.45 million, a P/E ratio of 9.59 and a beta of 0.78. The business’s 50 day simple moving average is $2.01 and its 200 day simple moving average is $1.96. MIND C.T.I. has a 1 year low of $1.70 and a 1 year high of $2.28.

MIND C.T.I. (NASDAQ:MNDO) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $0.04 earnings per share for the quarter. MIND C.T.I. had a return on equity of 21.27% and a net margin of 22.08%. The business had revenue of $5.21 million for the quarter.

MIND C.T.I. Company Profile

MIND C.T.I. Ltd., together with its subsidiaries, develops, markets, sells, and implements billing and customer care software solutions for communication service providers in the Americas, Europe, Israel, the Asia Pacific, and Africa. It operates in two segments, Billing and Related Services, and Messaging.