iCAD, Inc. (NASDAQ:ICAD) Sees Large Decrease in Short Interest

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Trail Advisors LLC bought a new stake in shares of iCAD during the fourth quarter worth about $214,000. Granahan Investment Management LLC bought a new stake in shares of iCAD during the fourth quarter worth about $96,000. Integrated Wealth Concepts LLC bought a new stake in shares of iCAD during the fourth quarter worth about $92,000. First Eagle Investment Management LLC grew its holdings in shares of iCAD by 6.1% during the fourth quarter. First Eagle Investment Management LLC now owns 716,161 shares of the technology company’s stock worth $1,311,000 after purchasing an additional 41,000 shares during the last quarter. Finally, PKS Advisory Services LLC bought a new stake in shares of iCAD during the fourth quarter worth about $53,000. Institutional investors own 24.61% of the company’s stock.

iCAD Stock Performance

Shares of NASDAQ ICAD remained flat at $2.29 during mid-day trading on Monday. The company had a trading volume of 109,813 shares, compared to its average volume of 247,489. iCAD has a 52 week low of $1.18 and a 52 week high of $3.78. The company has a 50 day moving average price of $2.62 and a 200-day moving average price of $2.04. The firm has a market cap of $60.78 million, a price-to-earnings ratio of -17.65 and a beta of 1.95.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded iCAD from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th.

About iCAD

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.