Insider Selling: CareCloud, Inc. (NASDAQ:CCLD) Director Sells $19,350.00 in Stock

CareCloud, Inc. (NASDAQ:CCLD) Director John N. Daly sold 5,000 shares of CareCloud stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $3.87, for a total value of $19,350.00. Following the sale, the director now directly owns 61,750 shares in the company, valued at approximately $238,972.50. This trade represents a 7.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CareCloud Stock Performance

Shares of CCLD stock opened at $3.67 on Friday. CareCloud, Inc. has a 1 year low of $1.01 and a 1 year high of $4.84. The business’s fifty day moving average is $3.22 and its 200-day moving average is $2.67. The stock has a market cap of $59.66 million, a PE ratio of -1.15 and a beta of 1.40.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CCLD. Benchmark reaffirmed a “buy” rating and set a $4.50 target price on shares of CareCloud in a research note on Friday, November 15th. Roth Mkm downgraded shares of CareCloud from a “buy” rating to a “neutral” rating and reduced their price objective for the stock 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.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in CareCloud by 25.1% in the 2nd 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 last quarter. Heron Bay Capital Management lifted its stake in CareCloud by 126.8% during the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock valued at $66,000 after purchasing an additional 19,329 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in CareCloud during the third quarter worth approximately $42,000. 10.16% of the stock is owned by institutional investors and hedge funds.

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.