Short Interest in MIND C.T.I. Ltd. (NASDAQ:MNDO) Drops By 33.3%

MIND C.T.I. Ltd. (NASDAQ:MNDO) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 12,721 shares, a decrease of 33.3% from the August 15th total of 19,072 shares. Based on an average daily trading volume, of 46,175 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MIND C.T.I. stock. Renaissance Technologies LLC acquired a new stake in MIND C.T.I. Ltd. (NASDAQ:MNDO) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 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. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

MIND C.T.I. Price Performance

MNDO stock opened at $1.03 on Friday. MIND C.T.I. has a fifty-two week low of $0.85 and a fifty-two week high of $1.29. The stock has a market capitalization of $20.79 million, a price-to-earnings ratio of 6.44 and a beta of 0.39. The business’s fifty day moving average price is $1.02 and its two-hundred day moving average price is $1.04.

MIND C.T.I. (NASDAQ:MNDO) last announced its 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 during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of 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, According to MarketBeat.com, the company has an average rating of “Sell”.

About MIND C.T.I.

MIND C.T.I. Ltd. is an Israeli software company that develops billing, customer-care and operational support systems for communications service providers. Its solutions are designed to help telecommunications operators manage subscribers, service usage, invoicing, payments and customer interactions across multiple types of networks and services.

The company’s offerings have included convergent billing and customer-care software for wireline, wireless, broadband, Voice over Internet Protocol (VoIP), mobile virtual network operator and other communications services.