Healthcare Triangle, Inc. (NASDAQ:HCTI – Get Free Report) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 51,512 shares, a decrease of 44.0% from the May 31st total of 91,956 shares. Based on an average daily volume of 41,716 shares, the days-to-cover ratio is presently 1.2 days. Approximately 2.5% of the shares of the stock are short sold.
Analysts Set New Price Targets
HCTI has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Healthcare Triangle from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.
View Our Latest Research Report on HCTI
Healthcare Triangle Price Performance
Healthcare Triangle (NASDAQ:HCTI – Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($6.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($6.84) by $0.03. The company had revenue of $9.86 million for the quarter, compared to analyst estimates of $9.86 million. Healthcare Triangle had a negative return on equity of 166.88% and a negative net margin of 70.43%. On average, research analysts predict that Healthcare Triangle will post -16.13 earnings per share for the current year.
Healthcare Triangle declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 11th that permits the company to buyback $2,000.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 100,000,000% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Institutional Investors Weigh In On Healthcare Triangle
Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC purchased a new position in Healthcare Triangle during the third quarter worth about $26,000. Jane Street Group LLC acquired a new position in Healthcare Triangle in the 2nd quarter valued at about $33,000. Finally, XTX Topco Ltd purchased a new stake in shares of Healthcare Triangle in the 2nd quarter valued at approximately $69,000. 0.33% of the stock is currently owned by institutional investors and hedge funds.
About Healthcare Triangle
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.
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