Short Interest in iCAD, Inc. (NASDAQ:ICAD) Drops By 6.5%

iCAD, Inc. (NASDAQ:ICAD) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 233,000 shares, a drop of 6.5% from the October 31st total of 249,100 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 203,500 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of iCAD from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC increased its holdings in shares of iCAD by 55.6% in the first quarter. Virtu Financial LLC now owns 21,286 shares of the technology company’s stock valued at $34,000 after purchasing an additional 7,604 shares during the last quarter. Essex LLC acquired a new position in iCAD during the third quarter worth $216,000. Finally, Perritt Capital Management Inc grew its holdings in iCAD by 14.2% in the 2nd quarter. Perritt Capital Management Inc now owns 159,900 shares of the technology company’s stock valued at $208,000 after buying an additional 19,917 shares in the last quarter. 24.61% of the stock is currently owned by institutional investors and hedge funds.

iCAD Price Performance

ICAD traded up $0.03 on Monday, reaching $1.76. 152,391 shares of the company’s stock were exchanged, compared to its average volume of 185,410. iCAD has a twelve month low of $1.18 and a twelve month high of $2.65. The stock has a market cap of $46.71 million, a PE ratio of -13.54 and a beta of 1.47. The stock’s fifty day moving average price is $1.73 and its 200-day moving average price is $1.55.

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.