iCAD (NASDAQ:ICAD) Stock Passes Above 200-Day Moving Average – What’s Next?

Shares of iCAD, Inc. (NASDAQ:ICAD) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.54 and traded as high as $2.42. iCAD shares last traded at $2.34, with a volume of 484,462 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded iCAD from a “hold” rating to a “sell” rating in a report on Wednesday.

iCAD Price Performance

The business has a 50-day simple moving average of $1.70 and a 200 day simple moving average of $1.54. The firm has a market cap of $62.10 million, a PE ratio of -21.27 and a beta of 1.47.

iCAD (NASDAQ:ICAD) last issued its quarterly earnings results on Tuesday, August 13th. The technology company reported ($0.07) EPS for the quarter. The company had revenue of $5.03 million during the quarter. iCAD had a negative return on equity of 13.59% and a negative net margin of 15.67%.

Institutional Trading of iCAD

A number of hedge funds and other institutional investors have recently bought and sold shares of ICAD. Virtu Financial LLC increased its position in iCAD by 55.6% in the first quarter. Virtu Financial LLC now owns 21,286 shares of the technology company’s stock worth $34,000 after buying an additional 7,604 shares in the last quarter. Perritt Capital Management Inc raised its stake in iCAD by 14.2% during the 2nd quarter. Perritt Capital Management Inc now owns 159,900 shares of the technology company’s stock valued at $208,000 after purchasing an additional 19,917 shares during the period. Essex LLC bought a new stake in iCAD during the 3rd quarter valued at approximately $216,000. Perritt Capital Management Inc. raised its stake in iCAD by 7.5% during the 1st quarter. Perritt Capital Management Inc. now owns 139,983 shares of the technology company’s stock valued at $225,000 after purchasing an additional 9,717 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in iCAD by 3.2% during the 1st quarter. First Eagle Investment Management LLC now owns 701,525 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 22,000 shares during the period. Hedge funds and other institutional investors own 24.61% of the company’s stock.

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.