Short Interest in MIND C.T.I. Ltd. (NASDAQ:MNDO) Grows By 65.1%

MIND C.T.I. Ltd. (NASDAQ:MNDO) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 10,400 shares, a growth of 65.1% from the September 15th total of 6,300 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 29,100 shares, the short-interest ratio is presently 0.4 days.

A number of institutional investors and hedge funds have recently modified their holdings of MNDO. RBF Capital LLC bought a new stake in MIND C.T.I. in the 2nd quarter valued at approximately $151,000. Invesco Ltd. lifted its position in shares of MIND C.T.I. by 1.4% in the first quarter. Invesco Ltd. now owns 1,216,450 shares of the information technology services provider’s stock worth $2,117,000 after purchasing an additional 16,450 shares in the last quarter. Finally, Morgan Stanley lifted its position in MIND C.T.I. by 5.7% during the 1st quarter. Morgan Stanley now owns 1,220,218 shares of the information technology services provider’s stock worth $2,123,000 after buying an additional 65,444 shares in the last quarter. Hedge funds and other institutional investors own 16.24% of the company’s stock.

Separately, TheStreet upgraded MIND C.T.I. from a “c+” rating to a “b” rating in a research note on Tuesday, August 18th.

MNDO stock opened at $2.34 on Friday. MIND C.T.I. has a 1-year low of $1.45 and a 1-year high of $2.64. The firm has a market cap of $46.56 million, a P/E ratio of 9.00 and a beta of 0.53. The business’s 50 day moving average is $2.35 and its 200-day moving average is $2.05.

MIND C.T.I. (NASDAQ:MNDO) last released its quarterly earnings data on Tuesday, August 11th. The information technology services provider reported $0.07 earnings per share for the quarter. MIND C.T.I. had a return on equity of 25.35% and a net margin of 20.90%. The company had revenue of $5.64 million for the quarter.

About MIND C.T.I.

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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