Short Interest in iCAD, Inc. (NASDAQ:ICAD) Drops By 23.1%

iCAD, Inc. (NASDAQ:ICAD) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 231,100 shares, a decrease of 23.1% from the February 13th total of 300,600 shares. Based on an average trading volume of 444,700 shares, the short-interest ratio is currently 0.5 days. Approximately 0.9% of the company’s stock are sold short.

iCAD Price Performance

iCAD stock traded down $0.01 during mid-day trading on Wednesday, hitting $2.31. The company’s stock had a trading volume of 5,482 shares, compared to its average volume of 246,763. The firm’s 50 day moving average is $2.63 and its 200 day moving average is $2.05. The company has a market cap of $61.31 million, a PE ratio of -17.84 and a beta of 1.95. iCAD has a 52-week low of $1.18 and a 52-week high of $3.78.

Analyst Ratings Changes

Separately, StockNews.com downgraded iCAD from a “hold” rating to a “sell” rating in a research note on Tuesday.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Granahan Investment Management LLC acquired a new position in iCAD in the 4th quarter worth about $96,000. Integrated Wealth Concepts LLC acquired a new position in iCAD in the 4th quarter worth about $92,000. Wells Fargo & Company MN increased its position in iCAD by 51.3% in the 4th quarter. Wells Fargo & Company MN now owns 39,542 shares of the technology company’s stock worth $72,000 after purchasing an additional 13,402 shares during the last quarter. Perritt Capital Management Inc increased its position in iCAD by 1.9% in the 4th quarter. Perritt Capital Management Inc now owns 189,100 shares of the technology company’s stock worth $346,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in iCAD by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 276,493 shares of the technology company’s stock worth $506,000 after purchasing an additional 17,059 shares during the last quarter. 24.61% of the stock is owned by institutional investors and hedge funds.

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.