CareCloud, Inc. (NASDAQ:CCLD) Sees Significant Decrease in Short Interest

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 68,000 shares, a drop of 20.1% from the August 15th total of 85,100 shares. Based on an average daily trading volume, of 122,300 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.8% of the company’s shares are sold short.

CareCloud Trading Down 0.7 %

Shares of NASDAQ:CCLD traded down $0.02 during midday trading on Tuesday, hitting $2.73. 37,274 shares of the stock traded hands, compared to its average volume of 682,370. CareCloud has a one year low of $0.68 and a one year high of $3.80. The stock has a market capitalization of $44.08 million, a PE ratio of -0.72 and a beta of 1.34. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $2.38 and its two-hundred day moving average is $1.98.

CareCloud (NASDAQ:CCLD) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. The firm had revenue of $28.09 million for the quarter, compared to analyst estimates of $27.89 million. CareCloud had a negative return on equity of 82.03% and a negative net margin of 40.28%. As a group, research analysts forecast that CareCloud will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Benchmark lifted their price target on CareCloud from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, August 27th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CareCloud stock. Renaissance Technologies LLC grew its holdings in shares of CareCloud, Inc. (NASDAQ:CCLD) by 25.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 107,200 shares of the company’s stock after purchasing an additional 21,500 shares during the period. Renaissance Technologies LLC owned approximately 0.66% of CareCloud worth $206,000 as of its most recent SEC filing. Institutional investors and hedge funds own 10.16% of the company’s stock.

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.