CareCloud, Inc. (NASDAQ:CCLD) Sees Large Growth in Short Interest

CareCloud, Inc. (NASDAQ:CCLD) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 66,500 shares, an increase of 31.4% from the October 31st total of 50,600 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 92,600 shares, the short-interest ratio is currently 0.7 days.

Institutional Investors Weigh In On CareCloud

Several institutional investors have recently modified their holdings of the business. XTX Topco Ltd bought a new position in CareCloud during the 3rd quarter valued at about $42,000. Heron Bay Capital Management raised its holdings in shares of CareCloud by 126.8% during the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock valued at $66,000 after purchasing an additional 19,329 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in CareCloud by 25.1% during the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after purchasing an additional 21,500 shares during the period. 10.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CCLD. Roth Mkm downgraded CareCloud from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $5.00 to $3.50 in a report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $4.50 price target on shares of CareCloud in a research note on Friday, November 15th. Finally, Roth Capital downgraded shares of CareCloud from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

CareCloud Trading Up 1.6 %

CareCloud stock opened at $3.16 on Monday. CareCloud has a 12 month low of $0.68 and a 12 month high of $3.88. The stock has a fifty day simple moving average of $2.60 and a two-hundred day simple moving average of $2.49. The firm has a market cap of $51.35 million, a price-to-earnings ratio of -0.99 and a beta of 1.37.

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.