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

Healthcare Triangle, Inc. (NASDAQ:HCTI) saw a significant decline in short interest in the month of October. As of October 30th, there was short interest totaling 18,750 shares, a decline of 92.6% from the October 15th total of 252,895 shares. Based on an average trading volume of 20,047 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.1% of the shares of the company are sold short.

Institutional Trading of Healthcare Triangle

An institutional investor recently bought a new stake in Healthcare Triangle stock. State Street Corp bought a new position in shares of Healthcare Triangle, Inc. (NASDAQ:HCTI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 37,312 shares of the company’s stock, valued at approximately $27,000. State Street Corp owned approximately 4.21% of Healthcare Triangle as of its most recent filing with the Securities and Exchange Commission (SEC). 0.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a report on Thursday, October 15th. Wall Street Zen upgraded shares of Healthcare Triangle to a “hold” rating in a research report on Saturday, October 10th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Healthcare Triangle presently has a consensus rating of “Sell”.

Healthcare Triangle Trading Down 14.8%

HCTI stock traded down $0.65 during trading hours on Thursday, hitting $3.74. 94,104 shares of the stock traded hands, compared to its average volume of 91,373. The stock has a 50-day simple moving average of $10.43 and a 200 day simple moving average of $51.80. Healthcare Triangle has a one year low of $3.51 and a one year high of $3,096.00. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.11.

Healthcare Triangle (NASDAQ:HCTI) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($31.20) EPS for the quarter, topping the consensus estimate of ($68.60) by $37.40. Healthcare Triangle had a negative net margin of 66.85% and a negative return on equity of 125.45%. The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $10.35 million. On average, equities research analysts expect that Healthcare Triangle will post -204.60 EPS for the current fiscal year.

About Healthcare Triangle

Healthcare Triangle, Inc. (NASDAQ:HCTI) provides information technology and digital transformation services for the healthcare and life sciences industries. The company helps organizations modernize their technology environments, manage data, and support secure, compliant operations. Its offerings include cloud services, data and analytics solutions, interoperability and application modernization, cybersecurity, managed services, and professional consulting. Healthcare Triangle also develops technology solutions intended to support electronic health record environments, clinical and business workflows, and the use of artificial intelligence and other advanced analytics in healthcare.