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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan purchased a new stake in MIND C.T.I. during the fourth quarter valued at about $317,000. Acadian Asset Management LLC raised its position in MIND C.T.I. by 26.2% during the first quarter. Acadian Asset Management LLC now owns 162,082 shares of the information technology services provider’s stock valued at $346,000 after purchasing an additional 33,640 shares in the last quarter. Finally, Morgan Stanley raised its position in 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 purchasing an additional 48,330 shares in the last quarter. Institutional investors and hedge funds own 15.87% of the company’s stock.

NASDAQ MNDO traded up $0.02 during trading hours on Thursday, reaching $2.18. 14,500 shares of the stock traded hands, compared to its average volume of 31,816. The firm has a 50 day moving average price of $2.18. MIND C.T.I. has a 1 year low of $2.08 and a 1 year high of $2.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.35 and a current ratio of 2.35. The firm has a market cap of $43.20 million, a P/E ratio of 7.86 and a beta of 0.72.

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

MIND C.T.I. Company Profile

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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