Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Drops By 20.1%

CareCloud, Inc. (NASDAQ:CCLD) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 68,000 shares, a decline of 20.1% from the August 15th total of 85,100 shares. Based on an average daily volume of 122,300 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.8% of the company’s shares are sold short.

CareCloud Stock Down 0.7 %

Shares of CCLD traded down $0.02 during mid-day trading on Tuesday, hitting $2.73. 37,280 shares of the company’s stock were exchanged, compared to its average volume of 682,370. The stock’s 50-day moving average is $2.36 and its 200-day moving average is $1.97. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.01 and a current ratio of 1.03. CareCloud has a fifty-two week low of $0.68 and a fifty-two week high of $3.80. The company has a market cap of $44.08 million, a price-to-earnings ratio of -0.72 and a beta of 1.34.

CareCloud (NASDAQ:CCLD) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.07 by $0.10. CareCloud had a negative net margin of 40.28% and a negative return on equity of 82.03%. The company had revenue of $28.09 million during the quarter, compared to analysts’ expectations of $27.89 million. On average, sell-side analysts anticipate that CareCloud will post 0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Benchmark raised their price target on CareCloud from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, August 27th.

Institutional Investors Weigh In On CareCloud

A hedge fund recently raised its stake in CareCloud stock. Heron Bay Capital Management lifted its stake in shares of CareCloud, Inc. (NASDAQ:CCLD) by 126.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,576 shares of the company’s stock after buying an additional 19,329 shares during the quarter. Heron Bay Capital Management owned approximately 0.21% of CareCloud worth $66,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 10.16% of the company’s stock.

CareCloud Company Profile

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.