CareCloud, Inc. (NASDAQ:CCLD) Short Interest Down 31.5% in June

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 167,700 shares, a drop of 31.5% from the May 31st total of 244,800 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily volume of 1,750,000 shares, the days-to-cover ratio is currently 0.1 days.

CareCloud Stock Performance

Shares of CCLD traded up $0.03 during midday trading on Monday, hitting $1.95. 42,006 shares of the stock traded hands, compared to its average volume of 936,893. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.02. CareCloud has a 1-year low of $0.68 and a 1-year high of $3.80. The business’s 50 day moving average price is $2.12 and its two-hundred day moving average price is $1.60. The firm has a market capitalization of $31.43 million, a PE ratio of -0.51 and a beta of 1.34.

CareCloud (NASDAQ:CCLD) last posted its earnings results on Tuesday, May 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.30. The firm had revenue of $25.96 million during the quarter, compared to analyst estimates of $26.55 million. CareCloud had a negative net margin of 42.92% and a negative return on equity of 73.29%. During the same period in the previous year, the business posted ($0.28) EPS. Equities research analysts predict that CareCloud will post 0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Benchmark lifted their price target on shares of CareCloud from $3.50 to $4.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Maxim Group raised CareCloud from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a report on Friday, March 22nd.

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.