CareCloud, Inc. (NASDAQ:CCLD) Short Interest Up 991.1% in March

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 1,390,000 shares, a growth of 991.1% from the February 28th total of 127,400 shares. Based on an average daily volume of 758,300 shares, the short-interest ratio is presently 1.8 days. Approximately 6.4% of the company’s shares are short sold.

Analysts Set New Price Targets

Several analysts have commented on CCLD shares. Roth Mkm restated a “neutral” rating and issued a $1.50 price objective (down from $3.50) on shares of CareCloud in a report on Friday, March 14th. Roth Capital set a $1.50 price target on CareCloud in a research report on Thursday, March 13th.

CareCloud Trading Down 4.3 %

CCLD traded down $0.07 during midday trading on Wednesday, reaching $1.54. The company’s stock had a trading volume of 454,259 shares, compared to its average volume of 711,231. CareCloud has a 1 year low of $1.01 and a 1 year high of $4.84. The stock’s 50-day moving average is $3.00 and its 200-day moving average is $2.98. The firm has a market capitalization of $25.03 million, a price-to-earnings ratio of -0.48 and a beta of 1.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in CareCloud by 31.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company’s stock worth $55,000 after acquiring an additional 3,641 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of CareCloud by 7.0% in the fourth quarter. Renaissance Technologies LLC now owns 124,100 shares of the company’s stock worth $454,000 after purchasing an additional 8,100 shares during the last quarter. XTX Topco Ltd bought a new position in shares of CareCloud during the third quarter valued at $42,000. Empowered Funds LLC boosted its position in shares of CareCloud by 51.2% during the fourth quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock valued at $224,000 after buying an additional 20,750 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in CareCloud in the 4th quarter worth about $81,000. Institutional investors 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.