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

MIND C.T.I. Ltd (NASDAQ:MNDO) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 6,700 shares, an increase of 168.0% from the June 30th total of 2,500 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 26,700 shares, the short-interest ratio is presently 0.3 days.

MIND C.T.I. Price Performance

MNDO opened at $1.90 on Friday. The stock has a market capitalization of $38.23 million, a price-to-earnings ratio of 7.60 and a beta of 0.78. The business has a fifty day moving average price of $1.88 and a 200 day moving average price of $1.96. MIND C.T.I. has a 12 month low of $1.82 and a 12 month high of $2.28.

MIND C.T.I. (NASDAQ:MNDO) last announced its quarterly earnings data on Wednesday, May 8th. The information technology services provider reported $0.07 EPS for the quarter. The business had revenue of $5.77 million during the quarter. MIND C.T.I. had a return on equity of 22.92% and a net margin of 23.55%.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in shares of MIND C.T.I. by 24.8% in the 1st quarter. BNP Paribas Financial Markets now owns 74,510 shares of the information technology services provider’s stock valued at $141,000 after acquiring an additional 14,810 shares during the last quarter. Guardian Wealth Management Inc. increased its position in shares of MIND C.T.I. by 26.9% during the fourth quarter. Guardian Wealth Management Inc. now owns 51,610 shares of the information technology services provider’s stock worth $101,000 after purchasing an additional 10,937 shares in the last quarter. Finally, Glenorchy Capital Ltd acquired a new stake in shares of MIND C.T.I. during the fourth quarter worth about $230,000. 24.32% of the stock is currently owned by institutional investors and hedge funds.

MIND C.T.I. Company Profile

MIND C.T.I. Ltd., together with its subsidiaries, develops, markets, sells, and implements billing and customer care software solutions for communication service providers in the Americas, Europe, Israel, the Asia Pacific, and Africa. It operates in two segments, Billing and Related Services, and Messaging.