Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Drops By 17.6%

CareCloud, Inc. (NASDAQ:CCLD) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 127,400 shares, a drop of 17.6% from the February 13th total of 154,700 shares. Based on an average trading volume of 196,600 shares, the short-interest ratio is currently 0.6 days. Currently, 1.5% of the shares of the stock are short sold.

CareCloud Price Performance

Shares of NASDAQ:CCLD opened at $1.65 on Thursday. CareCloud has a one year low of $1.01 and a one year high of $4.84. The company has a market cap of $26.82 million, a price-to-earnings ratio of -0.52 and a beta of 1.55. The firm has a 50 day simple moving average of $3.14 and a 200 day simple moving average of $3.01.

Analyst Upgrades and Downgrades

CCLD has been the subject of several research analyst reports. Roth Mkm restated a “neutral” rating and set a $1.50 price objective (down from $3.50) on shares of CareCloud in a research report on Friday, March 14th. Roth Capital set a $1.50 price objective on CareCloud in a research report on Thursday, March 13th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. XTX Topco Ltd bought a new stake in CareCloud during the 3rd quarter worth $42,000. Dimensional Fund Advisors LP grew its holdings in shares of CareCloud by 31.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company’s stock worth $55,000 after purchasing an additional 3,641 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of CareCloud in the fourth quarter valued at approximately $81,000. Empowered Funds LLC increased its stake in shares of CareCloud by 51.2% in the fourth quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock valued at $224,000 after buying an additional 20,750 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in CareCloud in the 4th quarter valued at approximately $252,000. 10.16% of the stock is currently owned by institutional investors.

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.