Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Drops By 15.2%

CareCloud, Inc. (NASDAQ:CCLD) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 109,300 shares, a decrease of 15.2% from the March 15th total of 128,900 shares. Based on an average trading volume of 49,500 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.3% of the shares of the company are short sold.

Institutional Investors Weigh In On CareCloud

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. purchased a new stake in shares of CareCloud during the second quarter worth about $1,023,000. Dimensional Fund Advisors LP purchased a new stake in CareCloud during the 2nd quarter valued at approximately $258,000. Geode Capital Management LLC bought a new stake in shares of CareCloud during the second quarter valued at approximately $225,000. BlackRock Inc. purchased a new position in shares of CareCloud in the second quarter worth $187,000. Finally, Northern Trust Corp bought a new position in shares of CareCloud during the second quarter worth $153,000. 10.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CCLD shares. Maxim Group upgraded shares of CareCloud from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Friday, March 22nd. Benchmark reissued a “buy” rating and set a $3.50 price objective on shares of CareCloud in a research report on Monday, March 25th.

CareCloud Stock Performance

CareCloud stock remained flat at $1.16 during midday trading on Tuesday. 7,823 shares of the company traded hands, compared to its average volume of 50,592. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.24. CareCloud has a one year low of $0.68 and a one year high of $3.79. The stock has a market capitalization of $18.70 million, a P/E ratio of -0.29 and a beta of 1.10. The stock has a 50-day moving average of $1.28 and a two-hundred day moving average of $1.21.

CareCloud (NASDAQ:CCLD) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($3.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($2.60). CareCloud had a negative return on equity of 60.57% and a negative net margin of 41.58%. The firm had revenue of $28.42 million during the quarter. As a group, equities research analysts predict that CareCloud will post -0.86 earnings per share for the current fiscal year.

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.