CareCloud, Inc. (NASDAQ:CCLD) Sees Significant Increase in Short Interest

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,390,000 shares, a growth of 991.1% from the February 28th total of 127,400 shares. Based on an average daily trading volume, of 758,300 shares, the days-to-cover ratio is presently 1.8 days. Currently, 6.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

CCLD has been the subject of several research analyst reports. Roth Mkm reaffirmed a “neutral” rating and issued a $1.50 price objective (down previously from $3.50) on shares of CareCloud in a report on Friday, March 14th. Roth Capital set a $1.50 target price on CareCloud in a research report on Thursday, March 13th.

Institutional Investors Weigh In On CareCloud

Several hedge funds and other institutional investors have recently modified their holdings of CCLD. XTX Topco Ltd purchased a new position in CareCloud during the third quarter valued at $42,000. Dimensional Fund Advisors LP raised its stake in shares of CareCloud by 31.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company’s stock worth $55,000 after buying an additional 3,641 shares during the period. Two Sigma Advisers LP purchased a new position in shares of CareCloud during the 4th quarter valued at about $81,000. Empowered Funds LLC grew its stake in shares of CareCloud by 51.2% during the 4th quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock valued at $224,000 after acquiring an additional 20,750 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake 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 4.3 %

CCLD traded down $0.07 during trading on Wednesday, hitting $1.54. The company’s stock had a trading volume of 454,259 shares, compared to its average volume of 711,231. The business’s 50 day simple moving average is $3.00 and its 200-day simple moving average is $2.98. The firm has a market cap of $25.03 million, a PE ratio of -0.48 and a beta of 1.55. CareCloud has a one year low of $1.01 and a one year high of $4.84.

CareCloud Company Profile

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.