Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Declines By 17.6%

CareCloud, Inc. (NASDAQ:CCLD) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 127,400 shares, a decrease of 17.6% from the February 13th total of 154,700 shares. Based on an average trading volume of 196,600 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.5% of the shares of the company are short sold.

Hedge Funds Weigh In On CareCloud

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of CareCloud by 31.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company’s stock valued at $55,000 after purchasing an additional 3,641 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of CareCloud in the 3rd quarter valued at approximately $42,000. Two Sigma Advisers LP bought a new stake in shares of CareCloud in the 4th quarter valued at approximately $81,000. Empowered Funds LLC lifted its stake in shares of CareCloud by 51.2% in the 4th quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock valued at $224,000 after purchasing an additional 20,750 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of CareCloud in the 4th quarter valued at approximately $252,000. 10.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CCLD shares. Roth Capital set a $1.50 target price on shares of CareCloud in a research report on Thursday, March 13th. Roth Mkm reiterated a “neutral” rating and issued a $1.50 price target (down from $3.50) on shares of CareCloud in a research report on Friday, March 14th.

CareCloud Price Performance

Shares of NASDAQ:CCLD traded down $0.06 during trading on Wednesday, hitting $1.62. 397,942 shares of the company’s stock were exchanged, compared to its average volume of 697,348. The business’s 50-day simple moving average is $3.18 and its 200 day simple moving average is $3.02. CareCloud has a 52-week low of $1.01 and a 52-week high of $4.84. The company has a market cap of $26.25 million, a price-to-earnings ratio of -0.50 and a beta of 1.55.

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.