CareCloud (NASDAQ:CCLD) Lowered to “Hold” Rating by Roth Capital

Roth Capital lowered shares of CareCloud (NASDAQ:CCLD) from a strong-buy rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

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

CareCloud Trading Down 17.4 %

NASDAQ CCLD opened at $2.62 on Wednesday. CareCloud has a 12 month low of $0.68 and a 12 month high of $3.88. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average price is $2.54 and its 200-day moving average price is $2.36. The stock has a market cap of $42.47 million, a P/E ratio of -0.82 and a beta of 1.37.

CareCloud (NASDAQ:CCLD) last issued its earnings results on Tuesday, August 13th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. The business had revenue of $28.09 million during the quarter, compared to analyst estimates of $27.89 million. CareCloud had a negative return on equity of 90.27% and a negative net margin of 35.25%. As a group, equities analysts forecast that CareCloud will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in CareCloud stock. Renaissance Technologies LLC boosted its position in shares of CareCloud, Inc. (NASDAQ:CCLD) by 25.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,200 shares of the company’s stock after purchasing an additional 21,500 shares during the period. Renaissance Technologies LLC owned approximately 0.66% of CareCloud worth $206,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 10.16% of the company’s stock.

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.