CareCloud (NASDAQ:CCLD) Lowered to “Neutral” Rating by Roth Mkm

Roth Mkm cut shares of CareCloud (NASDAQ:CCLD) from a buy rating to a neutral rating in a report released on Wednesday morning, Marketbeat.com reports. The firm currently has $3.50 price target on the stock, down from their prior price target of $5.00.

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

CareCloud Trading Down 17.4 %

CareCloud stock opened at $2.62 on Wednesday. The firm has a 50-day moving average of $2.54 and a 200-day moving average of $2.36. CareCloud has a one year low of $0.68 and a one year high of $3.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 1.01. The company has a market cap of $42.47 million, a price-to-earnings ratio of -0.82 and a beta of 1.37.

CareCloud (NASDAQ:CCLD) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. CareCloud had a negative net margin of 35.25% and a negative return on equity of 90.27%. The company had revenue of $28.09 million during the quarter, compared to the consensus estimate of $27.89 million. On average, equities analysts expect that CareCloud will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CareCloud

A hedge fund recently raised its stake in CareCloud stock. Heron Bay Capital Management raised its stake in CareCloud, Inc. (NASDAQ:CCLD) by 126.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,576 shares of the company’s stock after acquiring an additional 19,329 shares during the quarter. Heron Bay Capital Management owned about 0.21% of CareCloud worth $66,000 at the end of the most recent reporting period. Institutional investors own 10.16% of the company’s stock.

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.