Healthcare Triangle, Inc. (NASDAQ:HCTI) Short Interest Down 75.8% in May

Healthcare Triangle, Inc. (NASDAQ:HCTI) saw a large decline in short interest in May. As of May 29th, there was short interest totaling 91,956 shares, a decline of 75.8% from the May 14th total of 379,248 shares. Based on an average daily volume of 78,939 shares, the short-interest ratio is presently 1.2 days. Approximately 4.5% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Healthcare Triangle Stock Performance

NASDAQ HCTI opened at $2.36 on Wednesday. The company has a market cap of $4.79 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 quick ratio of 0.90 and a current ratio of 0.90. The business’s 50 day moving average price is $2.38 and its 200-day moving average price is $30.36. Healthcare Triangle has a fifty-two week low of $2.06 and a fifty-two week high of $1,299.78.

Healthcare Triangle declared that its board has authorized a stock buyback plan on Wednesday, March 11th that authorizes the company to buyback $2,000.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 100,000,000% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Healthcare Triangle

Several large investors have recently modified their holdings of the stock. Private Advisor Group LLC bought a new position in shares of Healthcare Triangle during the 3rd quarter valued at approximately $26,000. Jane Street Group LLC purchased a new position in Healthcare Triangle during the 2nd quarter valued at $33,000. Finally, XTX Topco Ltd purchased a new position in Healthcare Triangle during the 2nd quarter valued at $69,000. Institutional investors own 0.33% of the company’s stock.

Healthcare Triangle Company Profile

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.