Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Rises By 991.1%

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

CareCloud Stock Down 4.3 %

Shares of CareCloud stock opened at $1.54 on Thursday. The company’s fifty day simple moving average is $3.00 and its two-hundred day simple moving average is $2.98. CareCloud has a 12-month low of $1.01 and a 12-month high of $4.84. The firm has a market cap of $25.03 million, a PE ratio of -0.48 and a beta of 1.55.

Analysts Set New Price Targets

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

Institutional Trading of CareCloud

Several large investors have recently modified their holdings of the business. XTX Topco Ltd bought a new position in CareCloud during the 3rd quarter valued at approximately $42,000. Dimensional Fund Advisors LP raised its holdings in shares of CareCloud by 31.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company’s stock valued at $55,000 after acquiring an additional 3,641 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in CareCloud in the fourth quarter worth $81,000. 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 in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in CareCloud during the 4th quarter valued at $252,000. 10.16% of the stock is owned by institutional investors.

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.