CareCloud, Inc. (NASDAQ:CCLD) Short Interest Update

CareCloud, Inc. (NASDAQ:CCLD) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 557,523 shares, a growth of 22.2% from the December 15th total of 456,054 shares. Based on an average trading volume of 251,370 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.5% of the company’s shares are short sold. Currently, 1.5% of the company’s shares are short sold. Based on an average trading volume of 251,370 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of CareCloud from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of CareCloud in a research note on Monday, December 29th. Roth Capital reaffirmed a “neutral” rating and set a $3.25 target price on shares of CareCloud in a research note on Thursday, November 6th. Finally, ThinkEquity began coverage on CareCloud in a report on Monday, November 24th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, CareCloud has a consensus rating of “Hold” and an average price target of $2.38.

CareCloud Stock Up 1.6%

CCLD traded up $0.05 during trading on Tuesday, hitting $2.95. 92,239 shares of the company’s stock were exchanged, compared to its average volume of 261,699. CareCloud has a fifty-two week low of $1.14 and a fifty-two week high of $4.75. The stock has a market cap of $124.87 million, a P/E ratio of 73.89 and a beta of 1.99. The business’s 50 day moving average is $3.06 and its two-hundred day moving average is $3.04. The company has a quick ratio of 1.24, a current ratio of 1.26 and a debt-to-equity ratio of 0.12.

CareCloud (NASDAQ:CCLD) last posted its earnings results on Thursday, November 6th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $31.07 million for the quarter, compared to analyst estimates of $29.01 million. CareCloud had a net margin of 9.80% and a return on equity of 24.31%. As a group, equities analysts expect that CareCloud will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John N. Daly sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $3.41, for a total value of $51,150.00. Following the sale, the director directly owned 51,750 shares in the company, valued at $176,467.50. This represents a 22.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 14.70% of the stock is owned by insiders.

Institutional Investors Weigh In On CareCloud

Several institutional investors have recently bought and sold shares of CCLD. Acadian Asset Management LLC lifted its stake in CareCloud by 481.9% during the 1st quarter. Acadian Asset Management LLC now owns 203,053 shares of the company’s stock valued at $280,000 after acquiring an additional 168,156 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of CareCloud during the second quarter valued at about $50,000. Prospera Financial Services Inc lifted its position in shares of CareCloud by 31.8% during the second quarter. Prospera Financial Services Inc now owns 75,966 shares of the company’s stock valued at $179,000 after purchasing an additional 18,339 shares in the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 252,299 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its position in CareCloud by 61.8% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 130,900 shares of the company’s stock worth $309,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors own 10.16% of the company’s stock.

CareCloud Company Profile

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.