MIND C.T.I. Ltd. (NASDAQ:MNDO) Stock Short Interest Falls 37.6%

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

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

An institutional investor recently bought a new position in MIND C.T.I. stock. Renaissance Technologies LLC purchased a new position in MIND C.T.I. Ltd. (NASDAQ:MNDO) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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 SEC filing. Institutional investors own 24.32% of the company’s stock.

MIND C.T.I. Trading Up 0.5%

MNDO traded up $0.01 during mid-day trading on Friday, hitting $0.93. 11,785 shares of the stock were exchanged, compared to its average volume of 41,180. The firm’s fifty day moving average is $1.00 and its two-hundred day moving average is $1.01. MIND C.T.I. has a 1-year low of $0.85 and a 1-year high of $1.29. The company has a market cap of $18.67 million, a PE ratio of 5.78 and a beta of 0.40.

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

Wall Street Analysts Forecast Growth

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

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.