Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Declines By 73.0%

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 244,800 shares, a decline of 73.0% from the May 15th total of 906,500 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,720,000 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

A number of brokerages have commented on CCLD. Maxim Group upgraded CareCloud from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research note on Friday, March 22nd. Benchmark upped their price target on CareCloud from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th.

CareCloud Price Performance

Shares of CCLD traded up $0.19 during mid-day trading on Wednesday, reaching $2.83. The company had a trading volume of 128,072 shares, compared to its average volume of 1,016,214. CareCloud has a twelve month low of $0.68 and a twelve month high of $3.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.02 and a quick ratio of 1.00. The company’s 50-day moving average is $1.86 and its 200-day moving average is $1.49. The company has a market capitalization of $45.62 million, a P/E ratio of -0.74 and a beta of 1.36.

CareCloud (NASDAQ:CCLD) last issued its earnings results on Tuesday, May 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.30. CareCloud had a negative return on equity of 73.29% and a negative net margin of 42.92%. The business had revenue of $25.96 million during the quarter, compared to analysts’ expectations of $26.55 million. During the same period in the prior year, the firm posted ($0.28) EPS. On average, equities analysts anticipate that CareCloud will post 0.36 EPS for the current year.

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.