CareCloud, Inc. (NASDAQ:CCLD) Short Interest Down 71.8% in March

CareCloud, Inc. (NASDAQ:CCLD) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 391,800 shares, a decline of 71.8% from the March 15th total of 1,390,000 shares. Based on an average daily trading volume, of 835,200 shares, the short-interest ratio is presently 0.5 days. Approximately 1.8% of the company’s stock are sold short.

CareCloud Stock Up 3.3 %

Shares of CareCloud stock traded up $0.05 on Thursday, reaching $1.43. 94,830 shares of the stock were exchanged, compared to its average volume of 739,102. The firm has a market capitalization of $60.31 million, a price-to-earnings ratio of -0.45 and a beta of 2.00. CareCloud has a twelve month low of $1.01 and a twelve month high of $4.84. The business has a 50 day moving average price of $2.27 and a two-hundred day moving average price of $2.82.

Analyst Ratings Changes

Several analysts have commented on CCLD shares. Roth Capital set a $1.50 target price on CareCloud in a research note on Thursday, March 13th. Roth Mkm reissued a “neutral” rating and set a $1.50 price target (down from $3.50) on shares of CareCloud in a research note on Friday, March 14th.

Institutional Investors Weigh In On CareCloud

A number of institutional investors and hedge funds have recently made changes to their positions in CCLD. Hillsdale Investment Management Inc. purchased a new position in shares of CareCloud during the fourth quarter worth approximately $252,000. Heron Bay Capital Management lifted its position in CareCloud by 48.5% during the 4th quarter. Heron Bay Capital Management now owns 101,119 shares of the company’s stock worth $370,000 after acquiring an additional 33,033 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in CareCloud during the 4th quarter worth $81,000. Empowered Funds LLC lifted its holdings in shares of CareCloud by 51.2% during the fourth quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock valued at $224,000 after purchasing an additional 20,750 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in CareCloud in the 3rd quarter worth approximately $42,000. 10.16% of the stock is owned by hedge funds and other institutional investors.

CareCloud Company Profile

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.