Healthcare Triangle, Inc. (NASDAQ:HCTI) Stock Short Interest Falls 67.0%

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 252,895 shares, a drop of 67.0% from the September 30th total of 767,059 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 411,645 shares, the days-to-cover ratio is presently 0.6 days.

Healthcare Triangle Trading Down 18.4%

Shares of HCTI stock traded down $1.16 during trading hours on Friday, hitting $5.14. 11,904 shares of the company were exchanged, compared to its average volume of 19,712. The firm has a fifty day moving average of $12.68 and a 200 day moving average of $73.32. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. Healthcare Triangle has a 1 year low of $5.14 and a 1 year high of $3,390.00. The firm has a market cap of $4.56 million, a PE ratio of -0.15 and a beta of 1.09.

Healthcare Triangle (NASDAQ:HCTI) last released its quarterly earnings data on Thursday, August 13th. The company reported ($31.20) EPS for the quarter, topping analysts’ consensus estimates of ($68.60) by $37.40. Healthcare Triangle had a negative return on equity of 125.45% and a negative net margin of 66.85%. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $10.35 million. Analysts expect that Healthcare Triangle will post -204.60 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HCTI. Weiss Ratings restated a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Thursday, October 15th. Wall Street Zen upgraded Healthcare Triangle to a “hold” rating in a research report on Saturday, October 10th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

About Healthcare Triangle

Healthcare Triangle, Inc (NASDAQ:HCTI) provides information technology and digital transformation services for the healthcare and life sciences industries. The company helps organizations modernize their technology environments, manage data, and support secure, compliant operations.

Its offerings include cloud services, data and analytics solutions, interoperability and application modernization, cybersecurity, managed services, and professional consulting. Healthcare Triangle also develops technology solutions intended to support electronic health record environments, clinical and business workflows, and the use of artificial intelligence and other advanced analytics in healthcare.

The company serves healthcare providers, payers, pharmaceutical and biotechnology companies, and other life sciences organizations.