Short Interest in MIND C.T.I. Ltd. (NASDAQ:MNDO) Grows By 437.1%

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

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in MIND C.T.I. in the 1st quarter valued at approximately $26,000. Jane Street Group LLC acquired a new stake in shares of MIND C.T.I. during the 1st quarter worth approximately $37,000. Finally, Glenorchy Capital Ltd grew its holdings 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 worth $375,000 after purchasing an additional 22,808 shares in the last quarter. 24.32% of the stock is currently owned by institutional investors.

MIND C.T.I. Price Performance

MNDO stock traded up $0.02 on Wednesday, reaching $1.03. 54,013 shares of the company were exchanged, compared to its average volume of 41,916. MIND C.T.I. has a 12 month low of $0.85 and a 12 month high of $1.29. The stock’s fifty day moving average price is $1.02 and its 200 day moving average price is $1.06. The firm has a market capitalization of $20.77 million, a PE ratio of 6.43 and a beta of 0.38.

MIND C.T.I. (NASDAQ:MNDO) last posted its quarterly earnings results on Thursday, August 6th. The information technology services provider reported $0.04 earnings per share (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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut 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, the company presently 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.