CareCloud (MTBC) – Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for CareCloud (NASDAQ: MTBC):

  • 11/20/2022 – CareCloud was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 11/15/2022 – CareCloud had its price target lowered by analysts at Benchmark Co. to $9.00.
  • 11/12/2022 – CareCloud was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 11/4/2022 – CareCloud was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 10/5/2022 – CareCloud is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
  • 9/27/2022 – CareCloud is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.

CareCloud Stock Up 6.6 %

MTBC traded up $0.20 during trading on Thursday, hitting $3.21. The company had a trading volume of 65,801 shares, compared to its average volume of 55,949. The company has a market capitalization of $48.86 million, a PE ratio of -7.13 and a beta of 0.83. CareCloud, Inc. has a one year low of $2.80 and a one year high of $7.10. The firm’s 50-day moving average price is $3.86 and its 200 day moving average price is $3.81.

Insider Activity at CareCloud

In related news, Director Stephen Andrew Snyder sold 2,925 shares of the business’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $25.01, for a total value of $73,154.25. Following the sale, the director now directly owns 3,992 shares of the company’s stock, valued at approximately $99,839.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 7,133 shares of company stock valued at $178,380. 34.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CareCloud

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in CareCloud by 73.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,372 shares of the technology company’s stock valued at $36,000 after buying an additional 4,407 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of CareCloud during the 1st quarter worth about $56,000. PDT Partners LLC acquired a new position in shares of CareCloud during the 2nd quarter worth about $43,000. Perritt Capital Management Inc. acquired a new position in shares of CareCloud during the 3rd quarter worth about $105,000. Finally, State Street Corp increased its stake in shares of CareCloud by 13.3% during the 1st quarter. State Street Corp now owns 26,463 shares of the technology company’s stock worth $136,000 after purchasing an additional 3,100 shares during the last quarter. 20.97% of the stock is currently owned by institutional investors and hedge funds.

CareCloud, Inc brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows, and make better business and care decisions. More than 40,000 providers across the United States count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs.

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