Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Grows By 16.5%

CareCloud, Inc. (NASDAQ:CCLD) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 59,300 shares, an increase of 16.5% from the July 15th total of 50,900 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 1,770,000 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On CareCloud

An institutional investor recently raised its position in CareCloud stock. Heron Bay Capital Management grew 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 and Exchange Commission (SEC). The firm owned 34,576 shares of the company’s stock after acquiring an additional 19,329 shares during the period. Heron Bay Capital Management owned about 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.

Wall Street Analyst Weigh In

Separately, Benchmark lifted their price target on shares of CareCloud from $3.50 to $4.00 and gave the company a “buy” rating in a research note on Thursday, May 16th.

CareCloud Stock Up 17.0 %

NASDAQ CCLD traded up $0.39 during trading hours on Friday, hitting $2.69. 149,804 shares of the company traded hands, compared to its average volume of 756,271. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.02. The business’s 50-day moving average is $2.15 and its 200-day moving average is $1.77. The stock has a market capitalization of $43.43 million, a price-to-earnings ratio of -0.71 and a beta of 1.33. CareCloud has a twelve month low of $0.68 and a twelve month high of $3.80.

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.