Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Expands By 19.0%

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 96,900 shares, an increase of 19.0% from the December 15th total of 81,400 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily volume of 155,200 shares, the short-interest ratio is presently 0.6 days.

CareCloud Price Performance

CCLD stock traded up $0.14 during trading on Friday, hitting $2.79. The stock had a trading volume of 82,984 shares, compared to its average volume of 106,095. CareCloud has a twelve month low of $1.01 and a twelve month high of $4.84. The company’s 50-day moving average price is $3.35 and its two-hundred day moving average price is $2.74. The stock has a market capitalization of $45.35 million, a P/E ratio of -0.87 and a beta of 1.40.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $4.50 price target on shares of CareCloud in a report on Friday, November 15th. Roth Mkm downgraded CareCloud from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $5.00 to $3.50 in a research note on Wednesday, November 13th. Finally, Roth Capital cut shares of CareCloud from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

Insider Buying and Selling

In other CareCloud news, Director John N. Daly sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $3.65, for a total value of $36,500.00. Following the completion of the transaction, the director now directly owns 66,750 shares of the company’s stock, valued at approximately $243,637.50. The trade was a 13.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 38.40% of the stock is currently owned by corporate insiders.

Institutional Trading of CareCloud

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of CareCloud by 25.1% in the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after buying an additional 21,500 shares during the last quarter. Heron Bay Capital Management grew its stake in CareCloud by 126.8% during the 2nd quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock valued at $66,000 after acquiring an additional 19,329 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in CareCloud in the 3rd quarter valued at about $42,000. 10.16% of the stock is owned by institutional investors and hedge funds.

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.