CareCloud, Inc. (NASDAQ:CCLD) Short Interest Down 17.7% in October

CareCloud, Inc. (NASDAQ:CCLD) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 50,600 shares, a drop of 17.7% from the October 15th total of 61,500 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 81,300 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of CareCloud

Several large investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in shares of CareCloud by 25.1% during the 2nd quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after purchasing an additional 21,500 shares during the last quarter. Heron Bay Capital Management lifted its holdings in shares of CareCloud by 126.8% during the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock worth $66,000 after purchasing an additional 19,329 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of CareCloud during the third quarter worth $42,000. 10.16% of the stock is owned by institutional investors and hedge funds.

CareCloud Trading Down 3.5 %

Shares of NASDAQ:CCLD traded down $0.09 on Friday, hitting $2.47. The company had a trading volume of 86,627 shares, compared to its average volume of 569,105. CareCloud has a 1-year low of $0.68 and a 1-year high of $3.88. The stock has a 50 day moving average price of $2.54 and a 200 day moving average price of $2.37. The stock has a market cap of $40.11 million, a price-to-earnings ratio of -0.77 and a beta of 1.37.

CareCloud (NASDAQ:CCLD) last released its earnings results on Tuesday, August 13th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.07 by $0.10. CareCloud had a negative net margin of 35.25% and a negative return on equity of 87.98%. The firm had revenue of $28.09 million for the quarter, compared to analyst estimates of $27.89 million. Sell-side analysts anticipate that CareCloud will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $4.50 price objective on shares of CareCloud in a research report on Friday. Roth Mkm lowered CareCloud from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $5.00 to $3.50 in a report on Wednesday. Finally, Roth Capital downgraded CareCloud from a “strong-buy” rating to a “hold” rating in a report on Wednesday.

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.