CareCloud, Inc. (NASDAQ:CCLD) Short Interest Down 15.2% in March

CareCloud, Inc. (NASDAQ:CCLD) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 109,300 shares, a decline of 15.2% from the March 15th total of 128,900 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 49,500 shares, the days-to-cover ratio is presently 2.2 days.

CareCloud Stock Performance

CCLD remained flat at $1.16 during midday trading on Tuesday. The company’s stock had a trading volume of 7,823 shares, compared to its average volume of 50,592. The stock has a market cap of $18.70 million, a price-to-earnings ratio of -0.29 and a beta of 1.10. The business has a fifty day moving average of $1.28 and a 200 day moving average of $1.21. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.24. CareCloud has a 12 month low of $0.68 and a 12 month high of $3.79.

CareCloud (NASDAQ:CCLD) last posted its earnings results on Thursday, March 21st. The company reported ($3.00) EPS for the quarter, missing the consensus estimate of ($0.40) by ($2.60). CareCloud had a negative return on equity of 60.57% and a negative net margin of 41.58%. The company had revenue of $28.42 million for the quarter. On average, equities analysts anticipate that CareCloud will post -0.86 EPS for the current year.

Hedge Funds Weigh In On CareCloud

Large investors have recently made changes to their positions in the company. Franklin Resources Inc. acquired a new position in CareCloud in the 2nd quarter worth about $1,023,000. Dimensional Fund Advisors LP acquired a new position in shares of CareCloud during the 2nd quarter worth approximately $258,000. Geode Capital Management LLC purchased a new position in shares of CareCloud during the 2nd quarter valued at approximately $225,000. BlackRock Inc. acquired a new stake in CareCloud in the 2nd quarter valued at $187,000. Finally, Northern Trust Corp purchased a new stake in CareCloud in the 2nd quarter worth $153,000. 10.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $3.50 price objective on shares of CareCloud in a report on Monday, March 25th. Maxim Group raised shares of CareCloud from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Friday, March 22nd.

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.