CareCloud, Inc. (NASDAQ:CCLD) Sees Significant Growth in Short Interest

CareCloud, Inc. (NASDAQ:CCLD) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 96,900 shares, a growth of 19.0% from the December 15th total of 81,400 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily volume of 155,200 shares, the short-interest ratio is currently 0.6 days.

CareCloud Price Performance

Shares of CCLD traded up $0.14 during trading hours on Friday, hitting $2.79. The stock had a trading volume of 82,984 shares, compared to its average volume of 106,095. The stock has a market capitalization of $45.37 million, a price-to-earnings ratio of -0.87 and a beta of 1.40. The company’s fifty day moving average is $3.35 and its two-hundred day moving average is $2.74. CareCloud has a 52 week low of $1.01 and a 52 week high of $4.84.

Insiders Place Their Bets

In other CareCloud news, Director John N. Daly sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $3.65, for a total value of $36,500.00. Following the completion of the transaction, the director now owns 66,750 shares of the company’s stock, valued at $243,637.50. This represents a 13.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 38.40% of the company’s stock.

Institutional Trading of CareCloud

Several large investors have recently added to or reduced their stakes in CCLD. Renaissance Technologies LLC boosted its holdings in shares of CareCloud by 25.1% in the 2nd quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock worth $206,000 after acquiring an additional 21,500 shares in the last quarter. Heron Bay Capital Management raised its position in CareCloud by 126.8% in the 2nd quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock valued at $66,000 after purchasing an additional 19,329 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in CareCloud in the third quarter worth $42,000. 10.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Roth Mkm lowered CareCloud from a “buy” rating to a “neutral” rating and cut their target price for the company from $5.00 to $3.50 in a research note on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and set a $4.50 price objective on shares of CareCloud in a report on Friday, November 15th. Finally, Roth Capital cut CareCloud from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th.

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.