Healthcare Triangle, Inc. (NASDAQ:HCTI) Sees Significant Growth in Short Interest

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totaling 379,248 shares, a growth of 140.4% from the April 30th total of 157,727 shares. Currently, 18.7% of the company’s stock are sold short. Based on an average daily volume of 412,027 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Healthcare Triangle in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCTI. XTX Topco Ltd bought a new stake in shares of Healthcare Triangle in the second quarter valued at $69,000. Jane Street Group LLC purchased a new stake in Healthcare Triangle in the 2nd quarter worth about $33,000. Finally, Private Advisor Group LLC purchased a new stake in Healthcare Triangle in the 3rd quarter worth about $26,000. 0.33% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Triangle Stock Performance

Shares of NASDAQ HCTI traded down $0.08 during midday trading on Tuesday, reaching $2.50. The company’s stock had a trading volume of 36,821 shares, compared to its average volume of 270,592. The stock has a market capitalization of $5.07 million, a P/E ratio of -0.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50 day moving average price of $2.43 and a 200-day moving average price of $35.64. Healthcare Triangle has a 12-month low of $2.06 and a 12-month high of $1,299.78.

Healthcare Triangle announced that its board has initiated a share repurchase program on Wednesday, March 11th that authorizes the company to buyback $2,000.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 100,000,000% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.