MIND C.T.I. Ltd. (NASDAQ:MNDO) Shares Shorted: Short Interest Down 99.2% in October

MIND C.T.I. Ltd. (NASDAQ:MNDO) was the target of a significant drop in short interest in the month of October. As of October 30th, there was short interest totaling 132 shares, a drop of 99.2% from the October 15th total of 16,690 shares. Based on an average trading volume of 25,064 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of MIND C.T.I. in a research note on Wednesday, November 4th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Trading of MIND C.T.I.

A hedge fund recently bought a new position in MIND C.T.I. stock. Renaissance Technologies LLC bought a new position in shares of MIND C.T.I. Ltd. (NASDAQ:MNDO) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,474 shares of the information technology services provider’s stock, valued at approximately $26,000. Renaissance Technologies LLC owned about 0.11% of MIND C.T.I. at the end of the most recent quarter. 24.32% of the stock is currently owned by institutional investors and hedge funds.

MIND C.T.I. Stock Performance

MIND C.T.I. stock traded up $0.39 during midday trading on Tuesday, reaching $1.26. The stock had a trading volume of 12,198,709 shares, compared to its average volume of 33,781. The firm’s fifty day simple moving average is $0.97 and its 200-day simple moving average is $1.04. MIND C.T.I. has a 1-year low of $0.85 and a 1-year high of $1.29. The stock has a market capitalization of $25.43 million, a P/E ratio of 7.88 and a beta of 0.39.

MIND C.T.I. (NASDAQ:MNDO) last released its quarterly earnings results on Tuesday, November 10th. The information technology services provider reported ($0.15) 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 firm had revenue of $4.36 million for the quarter.

MIND C.T.I. Company Profile

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.