MIND C.T.I. Ltd. (NASDAQ:MNDO) Stock Short Interest Report for October

MIND C.T.I. Ltd. (NASDAQ:MNDO) was the recipient of a significant decline in short interest in October. As of October 30th, there was short interest totaling 132 shares, a decline of 99.2% from the October 15th total of 16,690 shares. Based on an average daily trading volume, of 25,064 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are short sold.

Institutional Investors Weigh In On MIND C.T.I.

An institutional investor recently bought a new position in MIND C.T.I. stock. Renaissance Technologies LLC purchased a new stake in MIND C.T.I. Ltd. (NASDAQ:MNDO) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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. as of its most recent SEC filing. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

MIND C.T.I. Trading Up 0.4%

MNDO stock traded up $0.01 during trading on Wednesday, hitting $1.26. The company had a trading volume of 166,017 shares, compared to its average volume of 97,271. The company has a fifty day moving average price of $0.97 and a two-hundred day moving average price of $1.04. The company has a market cap of $25.53 million, a P/E ratio of 7.91 and a beta of 0.39. MIND C.T.I. has a fifty-two week low of $0.85 and a fifty-two week high of $1.29.

MIND C.T.I. (NASDAQ:MNDO) last released its quarterly earnings data on Tuesday, November 10th. The information technology services provider reported ($0.15) earnings per share (EPS) for the quarter. The company had revenue of $4.36 million for the quarter. MIND C.T.I. had a return on equity of 14.09% and a net margin of 16.87%.

Key Headlines Impacting MIND C.T.I.

Investors following MNDO have been watching these headlines:

• Positive Sentiment: The merger agreement allows MIND C.T.I. to seek alternative proposals through December 10, which could potentially produce a better offer, though there is no assurance one will emerge.
• Neutral Sentiment: The company appointed Orly Sorokin as CEO, effective November 17. The leadership change comes as MIND C.T.I. prepares for the proposed acquisition.
• Negative Sentiment: Q3 revenue declined to $4.4 million from $4.8 million a year earlier. MIND C.T.I. reported a $2.9 million net loss, including a $3.8 million non-cash goodwill impairment charge, versus net income of $0.7 million a year ago. The proposed deal also remains uncompleted, leaving shareholders exposed to approval and closing risks. MIND CTI Agrees to Acquisition and Reports Q3 Results

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.