CareCloud (NASDAQ:CCLD) Shares Break Below Two Hundred Day Moving Average – Time to Sell?

CareCloud, Inc. (NASDAQ:CCLD) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $2.45 and traded as low as $2.28. CareCloud shares last traded at $2.42, with a volume of 682,921 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Roth Capital dropped coverage on shares of CareCloud in a report on Tuesday, September 15th. They issued a “neutral” rating on the stock. Prior estimates, ratings, and price targets should no longer be relied upon. Weiss Ratings raised shares of CareCloud from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 12th. Finally, Wall Street Zen upgraded shares of CareCloud from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

CareCloud Stock Performance

The company has a current ratio of 0.87, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18. The company has a market cap of $102.97 million, a P/E ratio of 18.62 and a beta of 1.57. The company has a 50 day moving average price of $2.03 and a 200-day moving average price of $2.45.

CareCloud (NASDAQ:CCLD) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.04. CareCloud had a return on equity of 36.92% and a net margin of 7.36%. The business had revenue of $33.73 million for the quarter, compared to analyst estimates of $33.50 million. On average, equities analysts expect that CareCloud, Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CCLD. Renaissance Technologies LLC grew its holdings in shares of CareCloud by 5.9% during the 1st quarter. Renaissance Technologies LLC now owns 472,300 shares of the company’s stock valued at $1,724,000 after purchasing an additional 26,270 shares during the last quarter. Dimensional Fund Advisors LP increased its position in CareCloud by 49.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 377,567 shares of the company’s stock worth $1,377,000 after purchasing an additional 125,435 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in CareCloud in the 1st quarter valued at approximately $920,000. Sei Investments Co. lifted its stake in CareCloud by 110.2% in the 1st quarter. Sei Investments Co. now owns 228,358 shares of the company’s stock valued at $834,000 after purchasing an additional 119,705 shares during the last quarter. Finally, Globeflex Capital L P bought a new position in CareCloud in the 2nd quarter valued at approximately $711,000. Institutional investors own 10.16% of the company’s stock.

CareCloud Company Profile

CareCloud, Inc. provides cloud-based technology and business services to healthcare organizations, including physician practices, hospitals and other medical providers. Its offerings include electronic health records, practice management software, medical billing and revenue cycle management, patient engagement tools, and data and analytics services. The company also provides outsourced administrative and technology services, which can help healthcare providers manage operations such as claims processing and collections.