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

CareCloud, Inc. (NASDAQ:CCLD) Director John N. Daly sold 5,000 shares of the firm’s stock in a transaction dated 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. The trade was a 7.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CareCloud Stock Down 4.7 %

Shares of NASDAQ CCLD opened at $3.66 on Thursday. CareCloud, Inc. has a 52 week low of $1.01 and a 52 week high of $4.84. The business’s 50 day moving average price is $3.15 and its 200 day moving average price is $2.64. The firm has a market cap of $59.50 million, a P/E ratio of -1.14 and a beta of 1.44.

Institutional Trading of CareCloud

Several large investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in CareCloud during the third quarter valued at $42,000. Heron Bay Capital Management boosted its stake in shares of CareCloud by 126.8% in the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock worth $66,000 after buying an additional 19,329 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in CareCloud by 25.1% during the second 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 in the last quarter. 10.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CCLD shares. Roth Mkm cut CareCloud from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $5.00 to $3.50 in a research report on Wednesday, November 13th. Roth Capital downgraded shares of CareCloud from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Benchmark reiterated a “buy” rating and issued a $4.50 target price on shares of CareCloud in a research note on Friday, November 15th.

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.