MIND C.T.I. (NASDAQ:MNDO) Shares Cross Above 200-Day Moving Average – Here’s What Happened

MIND C.T.I. Ltd (NASDAQ:MNDO)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.92 and traded as high as $2.02. MIND C.T.I. shares last traded at $1.99, with a volume of 27,825 shares trading hands.

MIND C.T.I. Price Performance

The company’s 50 day simple moving average is $1.97 and its two-hundred day simple moving average is $1.92. The company has a market cap of $40.05 million, a PE ratio of 9.05 and a beta of 0.78.

MIND C.T.I. (NASDAQ:MNDO) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $0.04 earnings per share for the quarter. The business had revenue of $5.21 million for the quarter. MIND C.T.I. had a return on equity of 21.27% and a net margin of 22.08%.

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

A hedge fund recently raised its stake in MIND C.T.I. stock. Glenorchy Capital Ltd lifted its holdings in MIND C.T.I. Ltd (NASDAQ:MNDO) by 13.8% during the third quarter, according to the company in its most recent Form 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 buying an additional 31,544 shares during the quarter. Glenorchy Capital Ltd owned 1.30% of MIND C.T.I. worth $514,000 as of its most recent SEC filing. 24.32% of the stock is currently owned by institutional investors and hedge funds.

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.