Short Interest in iCAD, Inc. (NASDAQ:ICAD) Expands By 5.7%

iCAD, Inc. (NASDAQ:ICAD) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 249,100 shares, a growth of 5.7% from the October 15th total of 235,600 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 171,900 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of iCAD from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th.

iCAD Price Performance

Shares of NASDAQ:ICAD traded down $0.12 during midday trading on Monday, hitting $1.52. 338,694 shares of the company’s stock were exchanged, compared to its average volume of 173,536. iCAD has a 12 month low of $1.18 and a 12 month high of $2.65. The company has a market cap of $40.34 million, a PE ratio of -11.69 and a beta of 1.47. The stock has a 50 day moving average price of $1.71 and a 200-day moving average price of $1.54.

Institutional Trading of iCAD

Several institutional investors and hedge funds have recently modified their holdings of the stock. Perritt Capital Management Inc boosted its position in shares of iCAD by 14.2% during the second quarter. Perritt Capital Management Inc now owns 159,900 shares of the technology company’s stock valued at $208,000 after buying an additional 19,917 shares during the last quarter. Perritt Capital Management Inc. lifted its stake in iCAD by 7.5% during the 1st quarter. Perritt Capital Management Inc. now owns 139,983 shares of the technology company’s stock valued at $225,000 after acquiring an additional 9,717 shares in the last quarter. Essex LLC purchased a new position in iCAD during the 3rd quarter worth $216,000. Finally, Virtu Financial LLC boosted its holdings in iCAD by 55.6% during the 1st quarter. Virtu Financial LLC now owns 21,286 shares of the technology company’s stock worth $34,000 after acquiring an additional 7,604 shares during the last quarter. 24.61% of the stock is owned by hedge funds and other institutional investors.

iCAD Company Profile

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.