MIND C.T.I. Ltd. (NASDAQ:MNDO) Shares Shorted: Short Interest Down 37.6% in September

MIND C.T.I. Ltd. (NASDAQ:MNDO) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 9,442 shares, a decline of 37.6% from the September 15th total of 15,141 shares. Based on an average daily volume of 18,561 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the company’s stock are sold short.

MIND C.T.I. Trading Up 0.5%

Shares of MNDO stock traded up $0.01 on Friday, reaching $0.93. 11,785 shares of the stock were exchanged, compared to its average volume of 41,180. The business’s 50 day moving average price is $1.00 and its 200 day moving average price is $1.01. The company has a market capitalization of $18.67 million, a price-to-earnings ratio of 5.78 and a beta of 0.40. MIND C.T.I. has a twelve month low of $0.85 and a twelve month high of $1.29.

MIND C.T.I. (NASDAQ:MNDO) last posted its quarterly earnings results on Thursday, August 6th. The information technology services provider reported $0.04 earnings per share for the quarter. MIND C.T.I. had a return on equity of 14.09% and a net margin of 16.87%. The company had revenue of $4.61 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded MIND C.T.I. from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in MIND C.T.I. stock. Renaissance Technologies LLC bought a new position in shares of MIND C.T.I. Ltd. (NASDAQ:MNDO) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 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 filing with the SEC. 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. is an Israeli software company that develops billing, customer care and operational support solutions for communications service providers. Its technology is designed for wireless, wireline, broadband, voice-over-internet-protocol (VoIP) and other telecommunications businesses.

The company’s solutions support functions such as convergent and real-time billing, account management, rating, invoicing, usage tracking and customer service. Its software is intended to help communications providers manage subscribers and monetize voice, data and other telecommunications services through integrated business-support systems.

MIND C.T.I.