Benchmark Raises CareCloud (NASDAQ:CCLD) Price Target to $4.50

CareCloud (NASDAQ:CCLD) had its target price raised by Benchmark from $4.00 to $4.50 in a research report report published on Tuesday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

CareCloud Stock Down 2.2 %

CareCloud stock opened at $2.70 on Tuesday. The company has a 50 day moving average of $2.23 and a 200-day moving average of $1.87. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.22. CareCloud has a twelve month low of $0.68 and a twelve month high of $3.80. The stock has a market capitalization of $43.59 million, a PE ratio of -0.71 and a beta of 1.33.

Hedge Funds Weigh In On CareCloud

A hedge fund recently raised its stake in CareCloud stock. Renaissance Technologies LLC increased its position in shares of CareCloud, Inc. (NASDAQ:CCLD) by 25.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 107,200 shares of the company’s stock after buying an additional 21,500 shares during the quarter. Renaissance Technologies LLC owned 0.66% of CareCloud worth $206,000 as of its most recent SEC filing. 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.