Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Expands By 7.0%

CareCloud, Inc. (NASDAQ:CCLD) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 61,500 shares, a growth of 7.0% from the September 30th total of 57,500 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average trading volume of 81,200 shares, the days-to-cover ratio is currently 0.8 days.

CareCloud Stock Down 1.3 %

Shares of CareCloud stock traded down $0.03 during trading on Friday, reaching $2.28. The company’s stock had a trading volume of 14,233 shares, compared to its average volume of 583,981. 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 company has a market cap of $36.96 million, a price-to-earnings ratio of -0.65 and a beta of 1.35. CareCloud has a 1-year low of $0.68 and a 1-year high of $3.80. The company has a 50-day simple moving average of $2.56 and a two-hundred day simple moving average of $2.26.

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

Institutional Investors Weigh In On CareCloud

An institutional investor recently raised its position in CareCloud stock. Renaissance Technologies LLC grew its stake in CareCloud, Inc. (NASDAQ:CCLD) by 25.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,200 shares of the company’s stock after purchasing an additional 21,500 shares during the period. Renaissance Technologies LLC owned approximately 0.66% of CareCloud worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 10.16% of the company’s stock.

Analysts Set New Price Targets

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

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.