CareCloud (NASDAQ:CCLD) Cut to “Neutral” at Roth Mkm

Roth Mkm downgraded shares of CareCloud (NASDAQ:CCLD) from a buy rating to a neutral rating in a research note published on Wednesday morning, Marketbeat.com reports. They currently have $3.50 price target on the stock, down from their previous price target of $5.00.

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

CareCloud Stock Performance

Shares of NASDAQ:CCLD opened at $2.47 on Wednesday. The business has a fifty day moving average of $2.54 and a 200-day moving average of $2.37. The firm has a market cap of $40.11 million, a PE ratio of -0.77 and a beta of 1.37. CareCloud has a twelve month low of $0.68 and a twelve month high of $3.88.

CareCloud (NASDAQ:CCLD) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.17 earnings per share 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 during the quarter, compared to analysts’ expectations of $27.89 million. On average, analysts anticipate that CareCloud will post 0.58 EPS for the current fiscal year.

Institutional Trading of CareCloud

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in CareCloud during the 3rd quarter valued at about $42,000. Heron Bay Capital Management raised its stake 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 buying an additional 19,329 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in CareCloud by 25.1% in the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after buying an additional 21,500 shares during the period. 10.16% of the stock is currently owned by institutional investors and hedge funds.

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.