Short Interest in MIND C.T.I. Ltd (NASDAQ:MNDO) Declines By 53.5%

MIND C.T.I. Ltd (NASDAQ:MNDO) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 3,300 shares, a drop of 53.5% from the September 30th total of 7,100 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 23,300 shares, the short-interest ratio is presently 0.1 days.

MIND C.T.I. Trading Down 3.0 %

Shares of NASDAQ:MNDO traded down $0.06 during mid-day trading on Friday, reaching $1.94. The company had a trading volume of 54,403 shares, compared to its average volume of 29,937. The firm has a market cap of $38.93 million, a price-to-earnings ratio of 8.06 and a beta of 0.79. MIND C.T.I. has a one year low of $1.70 and a one year high of $2.28. The company’s 50-day moving average price is $1.94 and its 200-day moving average price is $1.90.

MIND C.T.I. (NASDAQ:MNDO) last announced its quarterly earnings results on Tuesday, August 6th. The information technology services provider reported $0.05 EPS for the quarter. The company had revenue of $5.27 million for the quarter. MIND C.T.I. had a net margin of 23.49% and a return on equity of 22.77%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MIND C.T.I. stock. Glenorchy Capital Ltd grew its position in shares of MIND C.T.I. Ltd (NASDAQ:MNDO) by 13.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,783 shares of the information technology services provider’s stock after purchasing an additional 31,544 shares during the period. Glenorchy Capital Ltd owned approximately 1.30% of MIND C.T.I. worth $514,000 at the end of the most recent 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.