Short Interest in Healthcare Triangle, Inc. (NASDAQ:HCTI) Declines By 17.0%
by Danessa Lincoln · The Markets DailyHealthcare Triangle, Inc. (NASDAQ:HCTI – Get Free Report) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 432,595 shares, a drop of 17.0% from the November 30th total of 521,474 shares. Currently, 7.5% of the company’s stock are sold short. Based on an average trading volume of 364,252 shares, the days-to-cover ratio is presently 1.2 days. Based on an average trading volume of 364,252 shares, the days-to-cover ratio is presently 1.2 days. Currently, 7.5% of the company’s stock are sold short.
Analysts Set New Price Targets
A number of brokerages recently weighed in on HCTI. Wall Street Zen downgraded Healthcare Triangle from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.
Read Our Latest Stock Report on HCTI
Healthcare Triangle Stock Down 22.0%
Shares of Healthcare Triangle stock traded down $0.18 during trading on Thursday, reaching $0.63. The company’s stock had a trading volume of 1,509,564 shares, compared to its average volume of 480,568. Healthcare Triangle has a 1-year low of $0.60 and a 1-year high of $435.75. The company has a 50-day simple moving average of $2.15 and a two-hundred day simple moving average of $3.61. The company has a market cap of $3.71 million, a price-to-earnings ratio of -0.01 and a beta of 0.87.
Healthcare Triangle (NASDAQ:HCTI – Get Free Report) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.20). The business had revenue of $3.49 million during the quarter.
Institutional Trading of Healthcare Triangle
Several large investors have recently bought and sold shares of HCTI. Private Advisor Group LLC purchased a new position in shares of Healthcare Triangle in the third quarter worth $26,000. Jane Street Group LLC acquired a new position in shares of Healthcare Triangle in the 2nd quarter valued at $33,000. Finally, XTX Topco Ltd purchased a new position in Healthcare Triangle in the 2nd quarter worth $69,000. Hedge funds and other institutional investors own 0.33% of the company’s stock.
Healthcare Triangle Company Profile
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.