CareCloud, Inc. (NASDAQ:CCLD) Sees Significant Increase in Short Interest

CareCloud, Inc. (NASDAQ:CCLD) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 81,400 shares, an increase of 14.5% from the November 30th total of 71,100 shares. Based on an average daily trading volume, of 147,300 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.0% of the company’s stock are sold short.

Analyst Ratings Changes

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

CareCloud Price Performance

Shares of CCLD stock traded up $0.20 during trading hours on Monday, hitting $3.84. The stock had a trading volume of 177,998 shares, compared to its average volume of 527,757. The firm has a market capitalization of $62.42 million, a PE ratio of -1.20 and a beta of 1.44. The stock’s 50 day moving average is $3.10 and its 200 day moving average is $2.62. CareCloud has a twelve month low of $1.01 and a twelve month high of $4.84.

Insider Transactions at CareCloud

In other news, Director John N. Daly sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $3.65, for a total value of $36,500.00. Following the sale, the director now directly owns 66,750 shares in the company, valued at approximately $243,637.50. This trade represents a 13.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 38.40% of the company’s stock.

Institutional Trading of CareCloud

A number of large investors have recently bought and sold shares of CCLD. Renaissance Technologies LLC increased its stake in CareCloud by 25.1% in the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after purchasing an additional 21,500 shares during the period. Heron Bay Capital Management increased its position in CareCloud by 126.8% in the 2nd 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 period. Finally, XTX Topco Ltd purchased a new stake in CareCloud during the 3rd quarter valued at approximately $42,000. 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.