Healthcare Triangle, Inc. (NASDAQ:HCTI) Sees Large Increase in Short Interest

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 170,615 shares, a growth of 231.2% from the June 15th total of 51,512 shares. Approximately 8.4% of the shares of the company are short sold. Based on an average daily trading volume, of 430,113 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Healthcare Triangle

Several hedge funds have recently bought and sold shares of HCTI. Private Advisor Group LLC purchased a new position in shares of Healthcare Triangle during the 3rd quarter valued at approximately $26,000. Jane Street Group LLC acquired a new position in shares of Healthcare Triangle in the 2nd quarter valued at $33,000. Finally, XTX Topco Ltd purchased a new stake in Healthcare Triangle during the second quarter worth $69,000. Hedge funds and other institutional investors own 0.33% of the company’s stock.

Healthcare Triangle Price Performance

NASDAQ:HCTI opened at $1.74 on Wednesday. The firm’s fifty day moving average is $2.18 and its two-hundred day moving average is $8.91. The firm has a market cap of $3.53 million, a price-to-earnings ratio of -0.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.90 and a current ratio of 0.90. Healthcare Triangle has a one year low of $1.67 and a one year high of $1,299.78.

Healthcare Triangle (NASDAQ:HCTI) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($6.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.84) by $0.03. Healthcare Triangle had a negative return on equity of 166.88% and a negative net margin of 70.43%.The business had revenue of $9.86 million during the quarter, compared to analysts’ expectations of $9.86 million. Research analysts expect that Healthcare Triangle will post -16.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Healthcare Triangle in a research note on Tuesday, April 21st. Wall Street Zen upgraded Healthcare Triangle from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Healthcare Triangle presently has a consensus rating of “Sell”.

Healthcare Triangle Company Profile

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.