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

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 61,500 shares, an increase of 7.0% from the September 30th total of 57,500 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 81,200 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CareCloud stock. Renaissance Technologies LLC lifted its position in CareCloud, Inc. (NASDAQ:CCLD) by 25.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,200 shares of the company’s stock after buying an additional 21,500 shares during the period. Renaissance Technologies LLC owned about 0.66% of CareCloud worth $206,000 as of its most recent SEC filing. Institutional investors own 10.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark upped their target price on shares of CareCloud from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, August 27th.

CareCloud Trading Down 1.3 %

CCLD traded down $0.03 during trading on Friday, reaching $2.28. 14,035 shares of the company’s stock were exchanged, compared to its average volume of 583,980. The company’s fifty day moving average price is $2.56 and its 200-day moving average price is $2.26. The firm has a market capitalization of $36.96 million, a PE ratio of -0.65 and a beta of 1.35. CareCloud has a fifty-two week low of $0.68 and a fifty-two week high of $3.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.01 and a current ratio of 1.03.

CareCloud (NASDAQ:CCLD) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. CareCloud had a negative return on equity of 82.03% and a negative net margin of 40.28%. The business had revenue of $28.09 million during the quarter, compared to analysts’ expectations of $27.89 million. As a group, equities analysts forecast that CareCloud will post 0.58 EPS for the current year.

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.