Short Interest in MIND C.T.I. Ltd. (NASDAQ:MNDO) Expands By 54.5%

MIND C.T.I. Ltd. (NASDAQ:MNDO) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 37,700 shares, an increase of 54.5% from the May 30th total of 24,400 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 26,900 shares, the short-interest ratio is presently 1.4 days.

Institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley boosted its holdings in shares of MIND C.T.I. by 5.8% during the third quarter. Morgan Stanley now owns 885,170 shares of the information technology services provider’s stock valued at $2,054,000 after acquiring an additional 48,330 shares during the period. Acadian Asset Management LLC lifted its holdings in MIND C.T.I. by 26.2% in the first quarter. Acadian Asset Management LLC now owns 162,082 shares of the information technology services provider’s stock worth $346,000 after purchasing an additional 33,640 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in MIND C.T.I. in the fourth quarter worth about $317,000. 15.87% of the stock is owned by institutional investors.

MNDO stock traded up $0.02 during trading on Friday, hitting $2.20. 8,372 shares of the company’s stock traded hands, compared to its average volume of 19,233. MIND C.T.I. has a 52 week low of $2.08 and a 52 week high of $2.50. The stock has a market cap of $43.19 million, a PE ratio of 7.79 and a beta of 0.72. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average price is $2.18.

MIND C.T.I. (NASDAQ:MNDO) last announced its quarterly earnings results on Monday, May 20th. The information technology services provider reported $0.08 earnings per share (EPS) for the quarter. MIND C.T.I. had a net margin of 30.28% and a return on equity of 28.47%. The company had revenue of $4.46 million during the quarter.

About MIND C.T.I.

MIND C.T.I. Ltd., together with its subsidiaries, designs, develops, markets, supports, implements, and operates real-time and off-line convergent billing and customer care software solutions in the United States, the United Kingdom and Rest of Europe, Israel, and internationally. The company offers billing and customer care solution that supports various services, such as voice, data, and content services, as well as prepaid, postpaid, and pay-in-advance payment models in a single platform.

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