iCAD, Inc. (NASDAQ:ICAD) Sees Significant Growth in Short Interest

iCAD, Inc. (NASDAQ:ICAD) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 249,100 shares, a growth of 5.7% from the October 15th total of 235,600 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 171,900 shares, the short-interest ratio is currently 1.4 days.

iCAD Trading Down 7.3 %

Shares of ICAD stock traded down $0.12 during trading hours on Monday, reaching $1.52. 338,694 shares of the stock were exchanged, compared to its average volume of 173,536. iCAD has a 12-month low of $1.18 and a 12-month high of $2.65. The firm has a market capitalization of $40.34 million, a price-to-earnings ratio of -12.38 and a beta of 1.47. The company’s 50-day moving average price is $1.71 and its 200-day moving average price is $1.54.

Analyst Ratings Changes

Separately, StockNews.com cut shares of iCAD from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th.

Institutional Investors Weigh In On iCAD

Large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC raised its stake in shares of iCAD by 55.6% during the first quarter. Virtu Financial LLC now owns 21,286 shares of the technology company’s stock valued at $34,000 after acquiring an additional 7,604 shares in the last quarter. Perritt Capital Management Inc increased its holdings in iCAD by 14.2% during the 2nd quarter. Perritt Capital Management Inc now owns 159,900 shares of the technology company’s stock worth $208,000 after purchasing an additional 19,917 shares during the period. Essex LLC bought a new stake in iCAD during the 3rd quarter valued at $216,000. Finally, Perritt Capital Management Inc. lifted its holdings in shares of iCAD by 7.5% in the 1st quarter. Perritt Capital Management Inc. now owns 139,983 shares of the technology company’s stock worth $225,000 after buying an additional 9,717 shares during the period. 24.61% of the stock is owned by hedge funds and other institutional investors.

iCAD Company Profile

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.