MIND C.T.I. Ltd (NASDAQ:MNDO) Sees Significant Drop in Short Interest

MIND C.T.I. Ltd (NASDAQ:MNDO) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 2,500 shares, a decrease of 26.5% from the June 15th total of 3,400 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 28,200 shares, the days-to-cover ratio is currently 0.1 days.

MIND C.T.I. Stock Performance

MIND C.T.I. stock traded up $0.01 during mid-day trading on Friday, hitting $1.94. The company’s stock had a trading volume of 27,413 shares, compared to its average volume of 20,230. MIND C.T.I. has a one year low of $1.82 and a one year high of $2.28. The company has a 50 day moving average of $1.88 and a 200-day moving average of $1.97. The stock has a market cap of $39.03 million, a PE ratio of 7.76 and a beta of 0.78.

MIND C.T.I. (NASDAQ:MNDO) last posted its quarterly earnings results on Wednesday, May 8th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter. MIND C.T.I. had a return on equity of 22.92% and a net margin of 23.55%. The business had revenue of $5.77 million for the quarter.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in MNDO. Glenorchy Capital Ltd bought a new position in shares of MIND C.T.I. during the 4th quarter worth $230,000. Guardian Wealth Management Inc. grew its position in shares of MIND C.T.I. by 26.9% during the 4th quarter. Guardian Wealth Management Inc. now owns 51,610 shares of the information technology services provider’s stock worth $101,000 after buying an additional 10,937 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of MIND C.T.I. by 24.8% during the 1st quarter. BNP Paribas Financial Markets now owns 74,510 shares of the information technology services provider’s stock worth $141,000 after purchasing an additional 14,810 shares during the last quarter. Institutional investors own 24.32% of the company’s stock.

About MIND C.T.I.

MIND C.T.I. Ltd., together with its subsidiaries, develops, markets, sells, and implements billing and customer care software solutions for communication service providers in the Americas, Europe, Israel, the Asia Pacific, and Africa. It operates in two segments, Billing and Related Services, and Messaging.