CareCloud, Inc. (NASDAQ:CCLD) Short Interest Up 7.0% in October

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 61,500 shares, a growth of 7.0% from the September 30th total of 57,500 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 81,200 shares, the short-interest ratio is presently 0.8 days.

Analysts Set New Price Targets

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

Institutional Trading of CareCloud

An institutional investor recently raised its position in CareCloud stock. Heron Bay Capital Management lifted its holdings in shares of CareCloud, Inc. (NASDAQ:CCLD) by 126.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,576 shares of the company’s stock after purchasing an additional 19,329 shares during the period. Heron Bay Capital Management owned 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 Stock Performance

CCLD traded down $0.03 during trading on Friday, reaching $2.28. 14,035 shares of the company’s stock were exchanged, compared to its average volume of 583,980. The company has a market capitalization of $36.96 million, a P/E ratio of -0.65 and a beta of 1.35. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $2.56 and a 200 day moving average price of $2.26. CareCloud has a fifty-two week low of $0.68 and a fifty-two week high of $3.80.

CareCloud (NASDAQ:CCLD) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.10. The company had revenue of $28.09 million for the quarter, compared to analyst estimates of $27.89 million. CareCloud had a negative return on equity of 82.03% and a negative net margin of 40.28%. As a group, analysts predict that CareCloud will post 0.58 earnings per share for the current fiscal year.

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.