MIND C.T.I. Ltd. (NASDAQ:MNDO) Stock Short Interest Jumps 76.8%

MIND C.T.I. Ltd. (NASDAQ:MNDO) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 16,690 shares, an increase of 76.8% from the September 30th total of 9,442 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 34,802 shares, the days-to-cover ratio is currently 0.5 days.

Wall Street Analyst Weigh In

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

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

An institutional investor recently bought a new stake in MIND C.T.I. stock. Renaissance Technologies LLC purchased a new stake in shares of MIND C.T.I. Ltd. (NASDAQ:MNDO) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 22,474 shares of the information technology services provider’s stock, valued at approximately $26,000. Renaissance Technologies LLC owned approximately 0.11% of MIND C.T.I. at the end of the most recent reporting period. Institutional investors own 24.32% of the company’s stock.

MIND C.T.I. Stock Performance

Shares of MNDO stock traded up $0.01 during trading hours on Friday, hitting $0.89. 25,487 shares of the company were exchanged, compared to its average volume of 31,497. The company has a 50 day simple moving average of $0.98 and a two-hundred day simple moving average of $1.05. MIND C.T.I. has a fifty-two week low of $0.85 and a fifty-two week high of $1.29. The firm has a market cap of $17.92 million, a P/E ratio of 5.55 and a beta of 0.40.

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

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.

MIND C.T.I.