MIND C.T.I. Ltd. (NASDAQ:MNDO) Sees Large Increase in Short Interest

MIND C.T.I. Ltd. (NASDAQ:MNDO) was the target of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 25,468 shares, a growth of 616.4% from the May 14th total of 3,555 shares. Based on an average daily trading volume, of 46,469 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.1% of the company’s stock are short sold.

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

A number of large investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in shares of MIND C.T.I. during the first quarter worth $37,000. Renaissance Technologies LLC acquired a new position in shares of MIND C.T.I. during the first quarter worth $26,000. Glenorchy Capital Ltd increased its position in shares of MIND C.T.I. by 9.1% during the second 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. Finally, Signal Advisors Wealth LLC purchased a new stake in shares of MIND C.T.I. during the fourth quarter valued at $41,000. 24.32% of the stock is owned by institutional investors and hedge funds.

MIND C.T.I. Trading Up 0.2%

Shares of NASDAQ:MNDO traded up $0.00 during trading on Wednesday, reaching $0.98. The stock had a trading volume of 5,504 shares, compared to its average volume of 37,486. MIND C.T.I. has a one year low of $0.85 and a one year high of $1.52. The company has a market capitalization of $19.88 million, a P/E ratio of 6.97 and a beta of 0.40. The firm’s 50-day simple moving average is $1.02 and its 200 day simple moving average is $1.13.

MIND C.T.I. (NASDAQ:MNDO) last released its quarterly earnings results on Monday, May 11th. The information technology services provider reported $0.04 earnings per share for the quarter. MIND C.T.I. had a net margin of 15.26% and a return on equity of 13.20%. The business had revenue of $5.09 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded MIND C.T.I. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, MIND C.T.I. has a consensus rating of “Hold”.

About MIND C.T.I.

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.