Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Decreases By 71.8%

by · The Cerbat Gem

CareCloud, Inc. (NASDAQ:CCLD – Get Free Report) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 391,800 shares, a decline of 71.8% from the March 15th total of 1,390,000 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average trading volume of 835,200 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On CareCloud

Several institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in CareCloud in the third quarter valued at approximately $42,000. Dimensional Fund Advisors LP raised its holdings in CareCloud by 31.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company’s stock valued at $55,000 after buying an additional 3,641 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in CareCloud during the 4th quarter valued at $81,000. Empowered Funds LLC grew its holdings in CareCloud by 51.2% in the 4th quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock worth $224,000 after acquiring an additional 20,750 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of CareCloud during the fourth quarter valued at about $252,000. 10.16% of the stock is currently owned by institutional investors.

CareCloud Price Performance

CareCloud stock traded up $0.09 during mid-day trading on Tuesday, hitting $1.43. The company’s stock had a trading volume of 144,939 shares, compared to its average volume of 736,689. The business has a 50 day moving average price of $2.38 and a 200-day moving average price of $2.84. CareCloud has a 12 month low of $1.01 and a 12 month high of $4.84. The stock has a market cap of $60.31 million, a price-to-earnings ratio of -0.45 and a beta of 2.00.

Analyst Upgrades and Downgrades

CCLD has been the subject of several research analyst reports. Roth Capital set a $1.50 price target on CareCloud in a research note on Thursday, March 13th. Roth Mkm restated a “neutral” rating and issued a $1.50 target price (down previously from $3.50) on shares of CareCloud in a research report on Friday, March 14th.

Read Our Latest Stock Analysis on CareCloud

CareCloud Company Profile

(Get Free Report)

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.

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