CareCloud, Inc. (NASDAQ:CCLD) Sees Large Increase in Short Interest

CareCloud, Inc. (NASDAQ:CCLD) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 1,390,000 shares, a growth of 991.1% from the February 28th total of 127,400 shares. Currently, 6.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 758,300 shares, the short-interest ratio is currently 1.8 days.

CareCloud Trading Down 3.9 %

Shares of CCLD stock opened at $1.48 on Friday. The firm has a market capitalization of $62.63 million, a price-to-earnings ratio of -0.46 and a beta of 1.55. The business’s 50-day moving average price is $2.98 and its 200-day moving average price is $2.97. CareCloud has a 12 month low of $1.01 and a 12 month high of $4.84.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Roth Mkm reaffirmed a “neutral” rating and issued a $1.50 price objective (down from $3.50) on shares of CareCloud in a research note on Friday, March 14th. Roth Capital set a $1.50 price target on shares of CareCloud in a report on Thursday, March 13th.

Hedge Funds Weigh In On CareCloud

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in CareCloud by 31.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company’s stock valued at $55,000 after purchasing an additional 3,641 shares during the period. Renaissance Technologies LLC raised its position in shares of CareCloud by 7.0% during the fourth quarter. Renaissance Technologies LLC now owns 124,100 shares of the company’s stock worth $454,000 after acquiring an additional 8,100 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of CareCloud in the third quarter worth approximately $42,000. Empowered Funds LLC boosted its holdings in CareCloud by 51.2% in 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. Finally, Two Sigma Advisers LP acquired a new stake in CareCloud during the 4th quarter valued at approximately $81,000. 10.16% of the stock is currently owned by institutional investors and hedge funds.

About CareCloud

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.