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

CareCloud, Inc. (NASDAQ:CCLD) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 391,800 shares, a decline of 71.8% from the March 15th total of 1,390,000 shares. Based on an average trading volume of 835,200 shares, the short-interest ratio is presently 0.5 days. Approximately 1.8% of the shares of the company are short sold.

CareCloud Price Performance

CCLD stock traded up $0.09 during mid-day trading on Tuesday, reaching $1.43. 144,939 shares of the company traded hands, compared to its average volume of 736,689. The company has a fifty day moving average price of $2.38 and a 200-day moving average price of $2.84. CareCloud has a 52-week low of $1.01 and a 52-week high of $4.84. The company has a market capitalization of $60.31 million, a P/E ratio of -0.45 and a beta of 2.00.

Institutional Trading of CareCloud

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in shares of CareCloud during the 3rd quarter valued at $42,000. Dimensional Fund Advisors LP grew its position in CareCloud by 31.8% during 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 in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of CareCloud in the 4th quarter valued at about $81,000. Empowered Funds LLC boosted its position 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 last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of CareCloud during the fourth quarter worth about $252,000. Institutional investors own 10.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Roth Mkm reiterated a “neutral” rating and set a $1.50 target price (down previously from $3.50) on shares of CareCloud in a research report on Friday, March 14th. Roth Capital set a $1.50 price objective on shares of CareCloud in a research note on Thursday, March 13th.

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.