CareCloud, Inc. (NASDAQ:CCLD) Short Interest Update

CareCloud, Inc. (NASDAQ:CCLD) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 127,400 shares, a drop of 17.6% from the February 13th total of 154,700 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 196,600 shares, the short-interest ratio is presently 0.6 days.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Roth Mkm reaffirmed a “neutral” rating and set a $1.50 price objective (down from $3.50) on shares of CareCloud in a research report on Friday, March 14th. Roth Capital set a $1.50 price objective on CareCloud in a research report on Thursday, March 13th.

Hedge Funds Weigh In On CareCloud

A number of hedge funds have recently added to or reduced their stakes in the company. Two Sigma Advisers LP purchased a new position in CareCloud in the 4th quarter worth approximately $81,000. Dimensional Fund Advisors LP raised its holdings in CareCloud by 31.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company’s stock worth $55,000 after acquiring an additional 3,641 shares during the last quarter. Renaissance Technologies LLC raised its holdings in CareCloud by 7.0% in the 4th quarter. Renaissance Technologies LLC now owns 124,100 shares of the company’s stock worth $454,000 after acquiring an additional 8,100 shares during the last quarter. Heron Bay Capital Management raised its holdings in CareCloud by 48.5% in the 4th quarter. Heron Bay Capital Management now owns 101,119 shares of the company’s stock worth $370,000 after acquiring an additional 33,033 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in CareCloud in the 4th quarter worth approximately $252,000. 10.16% of the stock is currently owned by hedge funds and other institutional investors.

CareCloud Stock Down 3.3 %

Shares of CCLD stock traded down $0.06 during trading hours on Wednesday, hitting $1.62. 397,942 shares of the company’s stock traded hands, compared to its average volume of 697,348. The stock’s fifty day simple moving average is $3.18 and its two-hundred day simple moving average is $3.02. CareCloud has a 12-month low of $1.01 and a 12-month high of $4.84. The stock has a market cap of $26.25 million, a price-to-earnings ratio of -0.50 and a beta of 1.55.

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.