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

MIND C.T.I. Ltd (NASDAQ:MNDOGet Rating) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 10,700 shares, an increase of 24.4% from the August 15th total of 8,600 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 28,100 shares, the days-to-cover ratio is presently 0.4 days.

MIND C.T.I. Trading Down 0.4 %

MNDO opened at $2.33 on Monday. The company has a market cap of $46.84 million, a price-to-earnings ratio of 8.32 and a beta of 0.78. The company’s 50 day moving average is $2.37 and its 200 day moving average is $2.56. MIND C.T.I. has a 12-month low of $2.20 and a 12-month high of $3.41.

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

Large investors have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC lifted its holdings in MIND C.T.I. by 32.6% during the second quarter. O Shaughnessy Asset Management LLC now owns 24,499 shares of the information technology services provider’s stock valued at $59,000 after purchasing an additional 6,030 shares in the last quarter. Millennium Management LLC lifted its holdings in MIND C.T.I. by 182.2% during the second quarter. Millennium Management LLC now owns 30,914 shares of the information technology services provider’s stock valued at $74,000 after purchasing an additional 19,959 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in MIND C.T.I. during the fourth quarter valued at approximately $249,000. Hedge funds and other institutional investors own 15.66% of the company’s stock.

MIND C.T.I. Company Profile

(Get Rating)

MIND C.T.I. Ltd., together with its subsidiaries, designs, develops, markets, supports, implements, and operates 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. The company offers billing and customer care solutions that support various services, such as voice, data, and content services, as well as prepaid, postpaid, and pay-in-advance payment models in a single platform.

Further Reading

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