Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Drops By 17.7%

CareCloud, Inc. (NASDAQ:CCLD) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 50,600 shares, a decrease of 17.7% from the October 15th total of 61,500 shares. Based on an average daily trading volume, of 81,300 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On CareCloud

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in shares of CareCloud during the third quarter valued at approximately $42,000. Heron Bay Capital Management increased its holdings 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 buying an additional 19,329 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in CareCloud by 25.1% in the 2nd quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after buying an additional 21,500 shares during the period. Institutional investors own 10.16% of the company’s stock.

CareCloud Stock Down 3.5 %

CCLD stock traded down $0.09 during mid-day trading on Friday, reaching $2.47. 88,629 shares of the stock traded hands, compared to its average volume of 569,105. The firm has a market capitalization of $40.11 million, a PE ratio of -0.77 and a beta of 1.37. The business has a 50-day moving average of $2.54 and a two-hundred day moving average of $2.37. CareCloud has a 52 week low of $0.68 and a 52 week high of $3.88.

CareCloud (NASDAQ:CCLD) last released its earnings results on Tuesday, August 13th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.10. CareCloud had a negative return on equity of 87.98% and a negative net margin of 35.25%. The firm had revenue of $28.09 million for the quarter, compared to analyst estimates of $27.89 million. On average, equities research analysts anticipate that CareCloud will post 0.58 EPS for the current fiscal year.

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.