Short Interest in iCAD, Inc. (NASDAQ:ICAD) Decreases By 14.5%

iCAD, Inc. (NASDAQ:ICAD) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 215,000 shares, a drop of 14.5% from the December 15th total of 251,500 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 268,000 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On iCAD

An institutional investor recently bought a new position in iCAD stock. Essex LLC purchased a new stake in iCAD, Inc. (NASDAQ:ICAD) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 137,963 shares of the technology company’s stock, valued at approximately $216,000. Essex LLC owned approximately 0.52% of iCAD as of its most recent SEC filing. 24.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of iCAD from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st.

iCAD Stock Performance

NASDAQ:ICAD traded up $0.07 during mid-day trading on Friday, reaching $1.97. The stock had a trading volume of 698,862 shares, compared to its average volume of 163,597. iCAD has a twelve month low of $1.18 and a twelve month high of $2.65. The business has a 50 day simple moving average of $1.84 and a 200 day simple moving average of $1.64. The firm has a market capitalization of $52.15 million, a price-to-earnings ratio of -15.12 and a beta of 1.40.

About iCAD

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.