iCAD, Inc. (NASDAQ:ICAD) Sees Large Drop in Short Interest

iCAD, Inc. (NASDAQ:ICAD) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 233,000 shares, a decrease of 6.5% from the October 31st total of 249,100 shares. Based on an average trading volume of 203,500 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.9% of the shares of the stock are sold short.

iCAD Stock Up 1.7 %

iCAD stock opened at $1.76 on Tuesday. iCAD has a one year low of $1.18 and a one year high of $2.65. The business’s fifty day moving average is $1.73 and its 200 day moving average is $1.55.

Hedge Funds Weigh In On iCAD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC increased its position in shares of iCAD by 55.6% during the first quarter. Virtu Financial LLC now owns 21,286 shares of the technology company’s stock worth $34,000 after purchasing an additional 7,604 shares in the last quarter. Essex LLC purchased a new position in iCAD in the third quarter worth $216,000. Finally, Perritt Capital Management Inc raised its position in shares of iCAD by 14.2% during the 2nd quarter. Perritt Capital Management Inc now owns 159,900 shares of the technology company’s stock worth $208,000 after purchasing an additional 19,917 shares during the last quarter. Hedge funds and other institutional investors own 24.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of iCAD from a “sell” rating to a “hold” rating in a report on Thursday, November 21st.

iCAD Company Profile

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.