Healthcare Triangle, Inc. (NASDAQ:HCTI) Sees Large Decline in Short Interest

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the recipient of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 102,611 shares, a decline of 85.6% from the February 26th total of 714,560 shares. Based on an average daily volume of 261,466 shares, the short-interest ratio is currently 0.4 days. Currently, 14.0% of the shares of the company are sold short. Currently, 14.0% of the shares of the company are sold short. Based on an average daily volume of 261,466 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On Healthcare Triangle

Several large investors have recently made changes to their positions in HCTI. XTX Topco Ltd acquired a new position in Healthcare Triangle in the second quarter valued at $69,000. Jane Street Group LLC purchased a new stake in shares of Healthcare Triangle in the 2nd quarter valued at about $33,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Healthcare Triangle in the 3rd quarter valued at about $26,000. 0.33% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Triangle Stock Performance

NASDAQ HCTI traded up $0.11 on Wednesday, reaching $2.73. 28,762 shares of the company’s stock traded hands, compared to its average volume of 597,985. The stock has a 50 day moving average price of $10.04 and a 200-day moving average price of $87.96. The firm has a market cap of $1.99 million, a price-to-earnings ratio of 0.00 and a beta of 1.02. Healthcare Triangle has a fifty-two week low of $2.46 and a fifty-two week high of $7,470.00.

Healthcare Triangle announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 11th that authorizes the company to repurchase $2,000.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 100,000,000% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Healthcare Triangle in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

About Healthcare Triangle

Healthcare Triangle, Inc (NASDAQ: HCTI) is a specialized digital transformation and cloud consulting firm focused on the healthcare industry. The company delivers a range of professional and managed services that help healthcare organizations modernize their IT infrastructure, optimize data workflows and achieve regulatory compliance.

Its core offerings include cloud architecture design and implementation, enterprise data platform development, application modernization and managed IT operations.