CareCloud (NASDAQ:CCLD) Lowered to Hold Rating by Roth Capital

Roth Capital cut shares of CareCloud (NASDAQ:CCLD) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Several other research analysts have also commented on CCLD. Roth Mkm lowered shares of CareCloud from a “buy” rating to a “neutral” rating and decreased their price target for the company from $5.00 to $3.50 in a report on Wednesday. Benchmark lifted their price target on shares of CareCloud from $4.00 to $4.50 and gave the company a “buy” rating in a report on Tuesday, August 27th.

CareCloud Stock Performance

NASDAQ CCLD opened at $2.47 on Wednesday. CareCloud has a one year low of $0.68 and a one year high of $3.88. The company has a 50-day simple moving average of $2.54 and a 200-day simple moving average of $2.38. The firm has a market capitalization of $40.11 million, a PE ratio of -0.77 and a beta of 1.37.

Institutional Trading of CareCloud

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in CareCloud in the 3rd quarter valued at about $42,000. Heron Bay Capital Management lifted its position in CareCloud by 126.8% in the 2nd 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, Renaissance Technologies LLC lifted its position 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 purchasing an additional 21,500 shares during the last quarter. 10.16% of the stock is currently owned by institutional investors.

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.