CareCloud, Inc. (NASDAQ:CCLD) Sees Significant Decrease in Short Interest

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totaling 291,000 shares, a drop of 54.1% from the September 15th total of 634,500 shares. Based on an average trading volume of 483,200 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.8% of the shares of the stock are short sold. Currently, 0.8% of the shares of the stock are short sold. Based on an average trading volume of 483,200 shares, the days-to-cover ratio is currently 0.6 days.

CareCloud Price Performance

Shares of NASDAQ CCLD opened at $3.10 on Monday. The company has a market cap of $131.19 million, a PE ratio of -77.50 and a beta of 2.10. CareCloud has a 12 month low of $1.14 and a 12 month high of $4.84. The company has a 50-day simple moving average of $3.30 and a 200-day simple moving average of $2.50.

CareCloud (NASDAQ:CCLD) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The firm had revenue of $27.38 million for the quarter, compared to analysts’ expectations of $27.19 million. CareCloud had a return on equity of 23.51% and a net margin of 10.08%. CareCloud has set its FY 2025 guidance at 0.100-0.130 EPS. On average, analysts anticipate that CareCloud will post 0.58 EPS for the current year.

Analyst Ratings Changes

CCLD has been the subject of several recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of CareCloud in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of CareCloud from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CareCloud has a consensus rating of “Hold” and a consensus target price of $2.50.

Institutional Investors Weigh In On CareCloud

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of CareCloud by 235.4% in the second quarter. Geode Capital Management LLC now owns 359,486 shares of the company’s stock worth $848,000 after acquiring an additional 252,299 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in shares of CareCloud by 43.9% in the second quarter. Bridgeway Capital Management LLC now owns 313,039 shares of the company’s stock worth $739,000 after acquiring an additional 95,483 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of CareCloud by 481.9% in the first quarter. Acadian Asset Management LLC now owns 203,053 shares of the company’s stock worth $280,000 after acquiring an additional 168,156 shares during the last quarter. Crescent Grove Advisors LLC acquired a new stake in shares of CareCloud in the first quarter worth approximately $250,000. Finally, Hillsdale Investment Management Inc. boosted its position in shares of CareCloud by 61.8% in the second quarter. Hillsdale Investment Management Inc. now owns 130,900 shares of the company’s stock worth $309,000 after acquiring an additional 50,000 shares during the last quarter. 10.16% of the stock is owned by institutional investors and hedge funds.

About CareCloud

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.