icad inc. (NASDAQ:ICAD) Short Interest Down 25.4% in May

icad inc. (NASDAQ:ICAD) saw a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 296,500 shares, a decline of 25.4% from the May 15th total of 397,400 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 798,400 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Laidlaw reissued a “hold” rating on shares of icad in a research note on Thursday, April 17th. Craig Hallum lowered shares of icad from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 16th. Wall Street Zen initiated coverage on shares of icad in a research note on Tuesday, May 20th. They issued a “sell” rating on the stock. Finally, BTIG Research lowered shares of icad from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 16th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Parkman Healthcare Partners LLC purchased a new stake in shares of icad in the 1st quarter worth approximately $1,610,000. Informed Momentum Co LLC bought a new position in icad in the first quarter worth approximately $593,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in icad during the first quarter worth $505,000. Jane Street Group LLC bought a new stake in icad during the 1st quarter valued at $180,000. Finally, Granahan Investment Management LLC bought a new stake in icad during the 4th quarter valued at $96,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

icad Stock Down 1.6%

Shares of NASDAQ ICAD opened at $3.77 on Wednesday. icad has a twelve month low of $1.18 and a twelve month high of $4.02. The firm has a market cap of $103.56 million, a PE ratio of -19.84 and a beta of 1.38. The business has a fifty day simple moving average of $3.46 and a two-hundred day simple moving average of $2.70.

icad (NASDAQ:ICAD) last announced its quarterly earnings results on Tuesday, May 13th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. icad had a negative return on equity of 15.03% and a negative net margin of 26.63%. The firm had revenue of $4.87 million for the quarter, compared to analyst estimates of $4.54 million.

icad Company Profile

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.