Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Increases By 31.4%

CareCloud, Inc. (NASDAQ:CCLD) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 66,500 shares, an increase of 31.4% from the October 31st total of 50,600 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 92,600 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On CareCloud

A number of hedge funds have recently bought and sold shares of CCLD. XTX Topco Ltd bought a new stake in CareCloud during the 3rd quarter valued at about $42,000. Heron Bay Capital Management grew its holdings in shares of CareCloud by 126.8% during the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock valued at $66,000 after buying an additional 19,329 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of CareCloud by 25.1% during the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after acquiring an additional 21,500 shares in the last quarter. Institutional investors own 10.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CCLD shares. Benchmark reissued a “buy” rating and set a $4.50 price objective on shares of CareCloud in a research report on Friday, November 15th. Roth Mkm cut shares of CareCloud from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $3.50 in a research report on Wednesday, November 13th. Finally, Roth Capital cut shares of CareCloud from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th.

CareCloud Trading Up 1.6 %

CareCloud stock traded up $0.05 during mid-day trading on Friday, hitting $3.16. The company had a trading volume of 97,367 shares, compared to its average volume of 170,018. CareCloud has a 12 month low of $0.68 and a 12 month high of $3.88. The stock’s 50 day moving average price is $2.60 and its two-hundred day moving average price is $2.49. The company has a market capitalization of $51.35 million, a PE ratio of -0.99 and a beta of 1.37.

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.