Roth Capital Downgrades CareCloud (NASDAQ:CCLD) to Hold

CareCloud (NASDAQ:CCLD) was downgraded by stock analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on CCLD. Roth Mkm cut shares of CareCloud from a “buy” rating to a “neutral” rating and dropped their target price for the company from $5.00 to $3.50 in a research report on Wednesday. Benchmark upped their price objective on shares of CareCloud from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, August 27th.

CareCloud Stock Down 17.4 %

NASDAQ:CCLD opened at $2.62 on Wednesday. The stock’s fifty day moving average price is $2.54 and its two-hundred day moving average price is $2.36. CareCloud has a 52-week low of $0.68 and a 52-week high of $3.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.01 and a current ratio of 1.03. The company has a market cap of $42.47 million, a price-to-earnings ratio of -0.82 and a beta of 1.37.

CareCloud (NASDAQ:CCLD) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.10. CareCloud had a negative return on equity of 90.27% and a negative net margin of 35.25%. The firm had revenue of $28.09 million for the quarter, compared to the consensus estimate of $27.89 million. On average, analysts anticipate that CareCloud will post 0.58 EPS for the current year.

Hedge Funds Weigh In On CareCloud

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

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.