CareCloud, Inc. (NASDAQ:CCLD) Short Interest Down 15.9% in January

CareCloud, Inc. (NASDAQ:CCLD) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 81,500 shares, a decrease of 15.9% from the December 31st total of 96,900 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average trading volume of 168,300 shares, the short-interest ratio is currently 0.5 days.

CareCloud Stock Up 8.7 %

CareCloud stock traded up $0.30 on Monday, hitting $3.74. The company’s stock had a trading volume of 254,174 shares, compared to its average volume of 121,270. The firm has a market cap of $60.81 million, a P/E ratio of -1.17 and a beta of 1.41. CareCloud has a one year low of $1.01 and a one year high of $4.84. The company has a fifty day moving average price of $3.50 and a 200-day moving average price of $2.85.

Insider Buying and Selling at CareCloud

In related news, Director John N. Daly sold 10,000 shares of CareCloud stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $3.65, for a total value of $36,500.00. Following the transaction, the director now directly owns 66,750 shares in the company, valued at $243,637.50. This trade represents a 13.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 38.40% of the stock is owned by insiders.

Institutional Trading of CareCloud

Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in CareCloud in the 3rd quarter worth $42,000. Renaissance Technologies LLC grew its position in CareCloud by 25.1% during the 2nd quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock worth $206,000 after acquiring an additional 21,500 shares during the last quarter. Finally, Empowered Funds LLC raised its stake 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 acquiring an additional 20,750 shares during the last quarter. 10.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Roth Mkm downgraded CareCloud from a “buy” rating to a “neutral” rating and lowered their target price for the company from $5.00 to $3.50 in a research note on Wednesday, November 13th. Benchmark reissued a “buy” rating and issued a $4.50 price target on shares of CareCloud in a research note on Friday, November 15th. Finally, Roth Capital downgraded CareCloud from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th.

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.