Short Interest in Healthcare Triangle, Inc. (NASDAQ:HCTI) Expands By 1,454.5%

Healthcare Triangle, Inc. (NASDAQ:HCTI) saw a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 714,560 shares, an increase of 1,454.5% from the February 12th total of 45,967 shares. Approximately 97.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,849,221 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 1,849,221 shares, the days-to-cover ratio is currently 0.4 days. Approximately 97.5% of the shares of the company are short sold.

Institutional Trading of Healthcare Triangle

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

Healthcare Triangle Price Performance

HCTI stock traded down $0.01 during mid-day trading on Tuesday, reaching $2.72. 124,026 shares of the company traded hands, compared to its average volume of 1,172,402. The company has a fifty day moving average price of $16.23 and a 200-day moving average price of $97.67. Healthcare Triangle has a 52-week low of $2.46 and a 52-week high of $7,470.00. The company has a market capitalization of $1.99 million, a P/E ratio of 0.00 and a beta of 1.02.

Analysts Set New Price Targets

Several brokerages have commented on HCTI. Wall Street Zen lowered shares of Healthcare Triangle from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average 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.