Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Drops By 20.1%

CareCloud, Inc. (NASDAQ:CCLD) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 68,000 shares, a decline of 20.1% from the August 15th total of 85,100 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 122,300 shares, the short-interest ratio is currently 0.6 days.

Hedge Funds Weigh In On CareCloud

A hedge fund recently raised its stake in CareCloud stock. Heron Bay Capital Management lifted its position in CareCloud, Inc. (NASDAQ:CCLD) by 126.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,576 shares of the company’s stock after purchasing an additional 19,329 shares during the quarter. Heron Bay Capital Management owned approximately 0.21% of CareCloud worth $66,000 at the end of the most recent quarter. Institutional investors own 10.16% of the company’s stock.

CareCloud Stock Down 0.7 %

CCLD traded down $0.02 on Tuesday, reaching $2.73. The company’s stock had a trading volume of 37,280 shares, compared to its average volume of 682,370. The company has a market capitalization of $44.08 million, a price-to-earnings ratio of -0.72 and a beta of 1.34. CareCloud has a fifty-two week low of $0.68 and a fifty-two week high of $3.80. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $2.36 and a two-hundred day moving average of $1.97.

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

Analyst Upgrades and Downgrades

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

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.