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

MIND C.T.I. Ltd (NASDAQ:MNDO) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 19,500 shares, a growth of 1,672.7% from the February 28th total of 1,100 shares. Based on an average trading volume of 62,500 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company’s shares are short sold.

MIND C.T.I. Trading Down 7.7 %

MNDO stock traded down $0.15 during midday trading on Wednesday, hitting $1.79. 337,662 shares of the company’s stock were exchanged, compared to its average volume of 36,620. MIND C.T.I. has a 1-year low of $1.70 and a 1-year high of $2.13. The business has a 50-day simple moving average of $2.03 and a two-hundred day simple moving average of $2.00. The stock has a market capitalization of $36.46 million, a PE ratio of 8.14 and a beta of 0.76.

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

MIND C.T.I. Cuts Dividend

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

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

An institutional investor recently raised its position in MIND C.T.I. stock. Northern Trust Corp grew its position in shares of MIND C.T.I. Ltd (NASDAQ:MNDO) by 91.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 approximately 0.38% of MIND C.T.I. worth $152,000 as of its most recent SEC filing. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

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.