Roth Capital Downgrades CareCloud (NASDAQ:CCLD) to Hold

Roth Capital cut shares of CareCloud (NASDAQ:CCLD) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

Several other equities analysts have also recently commented on CCLD. Benchmark boosted their price objective on shares of CareCloud from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Roth Mkm cut shares of CareCloud from a “buy” rating to a “neutral” rating and reduced their target price for the company from $5.00 to $3.50 in a report on Wednesday.

CareCloud Stock Performance

Shares of NASDAQ:CCLD opened at $2.62 on Wednesday. CareCloud has a 1-year low of $0.68 and a 1-year high of $3.88. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $42.47 million, a P/E ratio of -0.82 and a beta of 1.37. The business has a 50-day moving average price of $2.54 and a two-hundred day moving average price of $2.36.

CareCloud (NASDAQ:CCLD) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.10. CareCloud had a negative net margin of 35.25% and a negative return on equity of 90.27%. The business had revenue of $28.09 million for the quarter, compared to analysts’ expectations of $27.89 million. Equities analysts predict that CareCloud will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On CareCloud

An institutional investor recently raised its position in CareCloud stock. Renaissance Technologies LLC lifted its stake in CareCloud, Inc. (NASDAQ:CCLD) by 25.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,200 shares of the company’s stock after buying an additional 21,500 shares during the period. Renaissance Technologies LLC owned about 0.66% of CareCloud worth $206,000 at the end of the most recent reporting period. 10.16% of the stock is owned by hedge funds and other institutional investors.

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.