CareCloud (NASDAQ:CCLD) Shares Down 0.3% – Here’s Why

by · The Markets Daily

CareCloud, Inc. (NASDAQ:CCLDGet Free Report) shares dropped 0.3% during trading on Friday . The stock traded as low as $2.87 and last traded at $2.91. Approximately 158,669 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 258,770 shares. The stock had previously closed at $2.92.

Wall Street Analyst Weigh In

CCLD has been the topic of a number of recent research reports. Roth Capital restated a “neutral” rating and set a $3.25 price objective on shares of CareCloud in a research report on Thursday, November 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of CareCloud in a research report on Monday, December 29th. Wall Street Zen upgraded CareCloud from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Finally, ThinkEquity assumed coverage on shares of CareCloud in a research note on Monday, November 24th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, CareCloud currently has a consensus rating of “Hold” and an average price target of $2.38.

View Our Latest Research Report on CCLD

CareCloud Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.26 and a quick ratio of 1.24. The stock has a market capitalization of $123.38 million, a PE ratio of 72.77 and a beta of 1.99. The firm has a fifty day moving average price of $3.10 and a two-hundred day moving average price of $2.99.

CareCloud (NASDAQ:CCLDGet Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. CareCloud had a return on equity of 24.31% and a net margin of 9.80%.The company had revenue of $31.07 million during the quarter, compared to analysts’ expectations of $29.01 million. Research analysts expect that CareCloud, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling

In related news, Director John N. Daly sold 15,000 shares of CareCloud stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $3.41, for a total transaction of $51,150.00. Following the completion of the sale, the director owned 51,750 shares in the company, valued at $176,467.50. This trade represents a 22.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 14.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC purchased a new position in CareCloud during the 1st quarter valued at about $28,000. Acadian Asset Management LLC increased its holdings in CareCloud by 481.9% during the first quarter. Acadian Asset Management LLC now owns 203,053 shares of the company’s stock valued at $280,000 after buying an additional 168,156 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in CareCloud during the second quarter valued at approximately $50,000. Prospera Financial Services Inc raised its stake in CareCloud by 31.8% in the second quarter. Prospera Financial Services Inc now owns 75,966 shares of the company’s stock worth $179,000 after buying an additional 18,339 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in CareCloud by 235.4% during the second quarter. Geode Capital Management LLC now owns 359,486 shares of the company’s stock worth $848,000 after buying an additional 252,299 shares during the period. 10.16% of the stock is currently owned by institutional investors.

CareCloud Company Profile

(Get Free Report)

CareCloud, Inc is a healthcare technology company that provides cloud-based practice management, electronic health record (EHR) and revenue cycle management (RCM) solutions to medical practices and health systems. Its flagship offering, the CareCloud Central platform, combines clinical, financial and administrative workflows into a single, unified system. The platform includes modules for scheduling, billing, coding, patient engagement and telehealth, enabling practices to streamline front- and back-office operations and improve overall practice performance.

Founded in 2009 and headquartered in Miami Beach, Florida, CareCloud serves small to mid-size physician groups and specialty clinics across the United States.

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