Short Interest in Healthcare Triangle, Inc. (NASDAQ:HCTI) Declines By 75.8%

Healthcare Triangle, Inc. (NASDAQ:HCTI) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 91,956 shares, a decrease of 75.8% from the May 14th total of 379,248 shares. Based on an average trading volume of 78,939 shares, the short-interest ratio is presently 1.2 days. Approximately 4.5% of the company’s shares are short sold.

Institutional Investors Weigh In On Healthcare Triangle

A number of large investors have recently added to or reduced their stakes in HCTI. XTX Topco Ltd acquired a new stake in Healthcare Triangle during the 2nd quarter valued at $69,000. Jane Street Group LLC acquired a new stake in Healthcare Triangle during the 2nd quarter valued at $33,000. Finally, Private Advisor Group LLC acquired a new stake in Healthcare Triangle during the 3rd quarter valued at $26,000. 0.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Healthcare Triangle Stock Performance

HCTI traded up $0.09 during trading hours on Thursday, reaching $2.43. 36,911 shares of the stock traded hands, compared to its average volume of 255,997. The firm’s fifty day simple moving average is $2.37 and its two-hundred day simple moving average is $28.82. Healthcare Triangle has a fifty-two week low of $2.06 and a fifty-two week high of $1,299.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.90 and a quick ratio of 0.90.

Healthcare Triangle announced that its board has authorized a share buyback plan on Wednesday, March 11th that permits the company to buyback $2,000.00 billion in shares. This buyback authorization permits the company to repurchase 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 shares are undervalued.

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.