Healthcare Triangle (NASDAQ:HCTI) Releases Earnings Results
by Doug Wharley · The Cerbat GemHealthcare Triangle (NASDAQ:HCTI – Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $999.00 earnings per share (EPS) for the quarter, Zacks reports.
Healthcare Triangle Stock Down 2.7%
Healthcare Triangle stock traded down $0.07 during mid-day trading on Wednesday, reaching $2.53. 142,622 shares of the company’s stock were exchanged, compared to its average volume of 692,420. Healthcare Triangle has a twelve month low of $2.24 and a twelve month high of $7,470.00. The company has a market cap of $1.85 million, a P/E ratio of 0.00 and a beta of 1.15. The company has a fifty day moving average of $4.53 and a 200-day moving average of $72.24.
Institutional Trading of Healthcare Triangle
A number of large investors have recently modified their holdings of HCTI. Private Advisor Group LLC purchased a new stake in Healthcare Triangle during the 3rd quarter worth about $26,000. Jane Street Group LLC purchased a new position in shares of Healthcare Triangle in the 2nd quarter valued at about $33,000. Finally, XTX Topco Ltd purchased a new position in shares of Healthcare Triangle in the 2nd quarter valued at about $69,000. Hedge funds and other institutional investors own 0.33% of the company’s stock.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.
Read Our Latest Report on Healthcare Triangle
Healthcare Triangle announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 11th that allows the company to buyback $2,000.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 100,000,000% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
About Healthcare Triangle
Healthcare Triangle, Inc (NASDAQ: HCTI) is a specialized digital transformation and cloud consulting firm focused on the healthcare industry. The company delivers a range of professional and managed services that help healthcare organizations modernize their IT infrastructure, optimize data workflows and achieve regulatory compliance.
Its core offerings include cloud architecture design and implementation, enterprise data platform development, application modernization and managed IT operations.