CareCloud, Inc. (NASDAQ:CCLD) Short Interest Up 31.4% in November

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 66,500 shares, a growth of 31.4% from the October 31st total of 50,600 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 92,600 shares, the days-to-cover ratio is presently 0.7 days.

CareCloud Stock Up 1.6 %

Shares of CareCloud stock traded up $0.05 during midday trading on Friday, hitting $3.16. The company’s stock had a trading volume of 97,367 shares, compared to its average volume of 551,024. CareCloud has a 1-year low of $0.68 and a 1-year high of $3.88. The stock has a 50-day simple moving average of $2.60 and a 200-day simple moving average of $2.48. The firm has a market capitalization of $51.36 million, a P/E ratio of -0.99 and a beta of 1.37.

Institutional Trading of CareCloud

Several institutional investors have recently made changes to their positions in CCLD. XTX Topco Ltd purchased a new stake in shares of CareCloud during the third quarter worth $42,000. Heron Bay Capital Management lifted its stake in CareCloud by 126.8% in the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock valued at $66,000 after acquiring an additional 19,329 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in CareCloud by 25.1% during the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock worth $206,000 after buying an additional 21,500 shares during the last quarter. 10.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Benchmark reiterated a “buy” rating and set a $4.50 price objective on shares of CareCloud in a research note on Friday, November 15th. Roth Mkm cut CareCloud from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $5.00 to $3.50 in a research report on Wednesday, November 13th. Finally, Roth Capital downgraded CareCloud from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 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.