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

MIND C.T.I. Ltd (NASDAQ:MNDO) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 19,500 shares, an increase of 1,672.7% from the February 28th total of 1,100 shares. Based on an average daily volume of 62,500 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

MIND C.T.I. Price Performance

MIND C.T.I. stock traded down $0.15 during midday trading on Wednesday, reaching $1.79. The company had a trading volume of 337,662 shares, compared to its average volume of 36,620. MIND C.T.I. has a 12-month low of $1.70 and a 12-month high of $2.13. The company has a market capitalization of $36.46 million, a P/E ratio of 8.14 and a beta of 0.76. The firm’s fifty day simple moving average is $2.03 and its 200-day simple moving average is $2.00.

MIND C.T.I. (NASDAQ:MNDO) last released its earnings results on Tuesday, March 4th. The information technology services provider reported $0.06 earnings per share for the quarter. MIND C.T.I. had a return on equity of 21.27% and a net margin of 22.08%. The business had revenue of $5.20 million for the quarter.

MIND C.T.I. Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $0.22 per share. This represents a dividend yield of 10.9%. The ex-dividend date of this dividend is Tuesday, March 25th. MIND C.T.I.’s payout ratio is 100.00%.

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

A hedge fund recently raised its stake in MIND C.T.I. stock. Northern Trust Corp increased its position in shares of MIND C.T.I. Ltd (NASDAQ:MNDO) by 91.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,009 shares of the information technology services provider’s stock after purchasing an additional 36,781 shares during the period. Northern Trust Corp owned 0.38% of MIND C.T.I. worth $152,000 at the end of the most recent quarter. Institutional investors own 24.32% of the company’s stock.

MIND C.T.I. Company Profile

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.