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

MIND C.T.I. Ltd. (NASDAQ:MNDO) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 19,072 shares, a growth of 437.1% from the July 30th total of 3,551 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 56,472 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Glenorchy Capital Ltd increased its stake in MIND C.T.I. by 9.1% during the second quarter. Glenorchy Capital Ltd now owns 273,791 shares of the information technology services provider’s stock worth $375,000 after acquiring an additional 22,808 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of MIND C.T.I. in the 1st quarter valued at $26,000. Finally, Jane Street Group LLC purchased a new position in shares of MIND C.T.I. during the 1st quarter worth $37,000. 24.32% of the stock is currently owned by institutional investors and hedge funds.

MIND C.T.I. Price Performance

Shares of MNDO traded up $0.04 during mid-day trading on Friday, reaching $1.05. The stock had a trading volume of 64,060 shares, compared to its average volume of 41,671. MIND C.T.I. has a 52-week low of $0.85 and a 52-week high of $1.29. The firm has a market cap of $21.19 million, a price-to-earnings ratio of 6.56 and a beta of 0.38. The business’s fifty day moving average is $1.02 and its 200 day moving average is $1.06.

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

Wall Street Analyst Weigh In

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

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.