CareCloud, Inc. (NASDAQ:CCLD) Short Interest Update

CareCloud, Inc. (NASDAQ:CCLD) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 66,500 shares, a growth of 31.4% from the October 31st total of 50,600 shares. Based on an average daily volume of 92,600 shares, the short-interest ratio is currently 0.7 days. Approximately 0.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

CCLD has been the subject of several research reports. Benchmark reaffirmed a “buy” rating and set a $4.50 price target on shares of CareCloud in a research report on Friday, November 15th. Roth Mkm cut shares of CareCloud from a “buy” rating to a “neutral” rating and reduced their target price for the company from $5.00 to $3.50 in a report on Wednesday, November 13th. Finally, Roth Capital cut shares of CareCloud from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

Hedge Funds Weigh In On CareCloud

Large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in shares of CareCloud in the third quarter worth $42,000. Heron Bay Capital Management increased its stake in CareCloud by 126.8% in the 2nd quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock worth $66,000 after buying an additional 19,329 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in CareCloud by 25.1% during the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after acquiring an additional 21,500 shares during the period. Hedge funds and other institutional investors own 10.16% of the company’s stock.

CareCloud Stock Up 1.6 %

CCLD stock opened at $3.16 on Monday. The business’s 50-day moving average price is $2.60 and its 200-day moving average price is $2.49. The stock has a market cap of $51.35 million, a P/E ratio of -0.99 and a beta of 1.37. CareCloud has a twelve month low of $0.68 and a twelve month high of $3.88.

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.