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

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CCLD shares. Roth Mkm reiterated a “neutral” rating and issued a $1.50 price objective (down previously from $3.50) on shares of CareCloud in a report on Friday. Roth Capital set a $1.50 target price on shares of CareCloud in a report on Thursday.

CareCloud Price Performance

Shares of CCLD stock traded up $0.03 during trading hours on Tuesday, reaching $1.62. 538,522 shares of the stock were exchanged, compared to its average volume of 693,224. CareCloud has a 12-month low of $1.01 and a 12-month high of $4.84. The firm has a market capitalization of $26.25 million, a P/E ratio of -0.51 and a beta of 1.55. The business’s fifty day moving average is $3.21 and its two-hundred day moving average is $3.03.

Hedge Funds Weigh In On CareCloud

Several large investors have recently bought and sold shares of CCLD. Dimensional Fund Advisors LP raised its stake in CareCloud by 31.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company’s stock valued at $55,000 after acquiring an additional 3,641 shares during the last quarter. XTX Topco Ltd purchased a new position in CareCloud in the 3rd quarter valued at $42,000. Two Sigma Advisers LP acquired a new position in CareCloud in the 4th quarter valued at $81,000. Empowered Funds LLC lifted its stake in shares of CareCloud by 51.2% in the 4th quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock worth $224,000 after acquiring an additional 20,750 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of CareCloud in the fourth quarter valued at about $252,000. Institutional investors and hedge funds own 10.16% of the company’s stock.

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.