CareCloud, Inc. (NASDAQ:CCLD) Short Interest Update

CareCloud, Inc. (NASDAQ:CCLD) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 127,400 shares, a decline of 17.6% from the February 13th total of 154,700 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average trading volume of 196,600 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

Several research firms recently weighed in on CCLD. Roth Capital set a $1.50 price objective on CareCloud in a research note on Thursday. Roth Mkm reaffirmed a “neutral” rating and set a $1.50 price target (down previously from $3.50) on shares of CareCloud in a research note on Friday.

CareCloud Stock Up 1.6 %

Shares of CareCloud stock traded up $0.03 during trading on Tuesday, hitting $1.62. 538,522 shares of the company were exchanged, compared to its average volume of 693,224. The firm has a 50 day moving average price of $3.21 and a 200 day moving average price of $3.03. The stock has a market capitalization of $26.25 million, a price-to-earnings ratio of -0.51 and a beta of 1.55. CareCloud has a fifty-two week low of $1.01 and a fifty-two week high of $4.84.

Hedge Funds Weigh In On CareCloud

A number of institutional investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. purchased a new stake in CareCloud during the 4th quarter worth about $252,000. Heron Bay Capital Management increased its holdings in CareCloud by 48.5% in the 4th quarter. Heron Bay Capital Management now owns 101,119 shares of the company’s stock valued at $370,000 after purchasing an additional 33,033 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of CareCloud during the 4th quarter valued at about $81,000. Empowered Funds LLC lifted its holdings in CareCloud by 51.2% in the 4th quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock worth $224,000 after buying an additional 20,750 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in CareCloud during the 3rd quarter worth approximately $42,000. 10.16% of the stock is owned by institutional investors and hedge funds.

CareCloud Company Profile

CareCloud, Inc, a healthcare information technology (IT) company, provides a suite of cloud-based solutions and related business services to healthcare providers and hospitals primarily in the United States. It operates in two segments, Healthcare IT and Medical Practice Management. The company's portfolio of proprietary software and business services includes technology-enabled business solutions; cloud-based software; digital health services; healthcare IT professional services and staffing; and medical practice management services.