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

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 432,595 shares, a decrease of 17.0% from the November 30th total of 521,474 shares. Currently, 7.5% of the shares of the stock are sold short. Based on an average trading volume of 364,252 shares, the short-interest ratio is currently 1.2 days. Based on an average trading volume of 364,252 shares, the short-interest ratio is currently 1.2 days. Currently, 7.5% of the shares of the stock are sold short.

Healthcare Triangle Stock Performance

NASDAQ:HCTI traded down $0.18 during trading hours on Wednesday, reaching $0.63. The company’s stock had a trading volume of 1,481,758 shares, compared to its average volume of 984,745. The firm has a market capitalization of $3.71 million, a price-to-earnings ratio of -0.01 and a beta of 0.87. The firm has a 50-day simple moving average of $2.19 and a 200-day simple moving average of $3.63. Healthcare Triangle has a 1 year low of $0.60 and a 1 year high of $435.75.

Healthcare Triangle (NASDAQ:HCTI) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.20). The firm had revenue of $3.49 million during the quarter.

Institutional Trading of Healthcare Triangle

Several large investors have recently modified their holdings of the business. Private Advisor Group LLC bought a new stake in shares of Healthcare Triangle in the 3rd quarter worth approximately $26,000. Jane Street Group LLC bought a new stake in shares of Healthcare Triangle during the second quarter valued at approximately $33,000. Finally, XTX Topco Ltd purchased a new stake in Healthcare Triangle in the second quarter worth $69,000. 0.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HCTI has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a report on Wednesday, October 8th. Wall Street Zen cut shares of Healthcare Triangle from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

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.