Short Interest in MIND C.T.I. Ltd (NASDAQ:MNDO) Rises By 1,672.7%

MIND C.T.I. Ltd (NASDAQ:MNDO) was the target of a large increase in short interest in 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 trading volume, of 62,500 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are short sold.

MIND C.T.I. Stock Performance

Shares of MNDO stock opened at $1.84 on Friday. MIND C.T.I. has a fifty-two week low of $1.70 and a fifty-two week high of $2.13. The firm has a market cap of $37.47 million, a P/E ratio of 8.36 and a beta of 0.76. The business’s 50 day moving average price is $2.03 and its 200-day moving average price is $2.00.

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

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 given 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 is presently 100.00%.

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

An institutional investor recently raised its position in MIND C.T.I. stock. Northern Trust Corp lifted its stake in MIND C.T.I. Ltd (NASDAQ:MNDO) by 91.4% during the fourth quarter, according to the company in its most recent 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 quarter. Northern Trust Corp owned about 0.38% of MIND C.T.I. worth $152,000 as of its most recent filing with the Securities & Exchange Commission. 24.32% of the stock is owned by institutional investors and hedge funds.

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.