Short Interest in MIND C.T.I. Ltd (NASDAQ:MNDO) Grows By 12.9%

Posted by Defense World Staff on Aug 1st, 2023

MIND C.T.I. Ltd (NASDAQ:MNDO – Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 7,900 shares, an increase of 12.9% from the June 30th total of 7,000 shares. Based on an average daily volume of 23,500 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, TheStreet cut shares of MIND C.T.I. from a “b-” rating to a “c+” rating in a report on Monday, June 26th.

MIND C.T.I. Price Performance

MNDO opened at $1.93 on Tuesday. The company has a market capitalization of $38.83 million, a price-to-earnings ratio of 7.84 and a beta of 0.75. The business’s 50-day moving average price is $1.96 and its two-hundred day moving average price is $2.08. MIND C.T.I. has a 1 year low of $1.89 and a 1 year high of $2.52.

MIND C.T.I. (NASDAQ:MNDO – Get Free Report) last announced its earnings results on Wednesday, May 10th. The information technology services provider reported $0.07 EPS for the quarter. MIND C.T.I. had a net margin of 24.04% and a return on equity of 23.47%. The business had revenue of $5.49 million during the quarter.

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

Several hedge funds have recently bought and sold shares of MNDO. Susquehanna International Group LLP lifted its position in MIND C.T.I. by 53.3% during the fourth quarter. Susquehanna International Group LLP now owns 21,677 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 7,540 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in MIND C.T.I. by 87.8% in the 4th quarter. Renaissance Technologies LLC now owns 38,500 shares of the information technology services provider’s stock valued at $81,000 after purchasing an additional 18,000 shares during the period. Finally, Millennium Management LLC grew its position in shares of MIND C.T.I. by 182.2% during the 2nd quarter. Millennium Management LLC now owns 30,914 shares of the information technology services provider’s stock worth $74,000 after purchasing an additional 19,959 shares in the last quarter. 10.82% of the stock is currently owned by institutional investors and hedge funds.

About MIND C.T.I.

(Get Free Report)

MIND C.T.I. Ltd., together with its subsidiaries, engages in design, development, marketing, supports, implements, and operation of billing and customer care systems in the Americas, Europe, Israel, the Asia Pacific, and Africa. It operates in two segments, Billing and Related Services and Messaging.