Other analysts have also issued research reports about the company. B. Riley lowered their target price on CareCloud from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, March 15th. TheStreet lowered CareCloud from a “c-” rating to a “d+” rating in a report on Friday, April 1st. Finally, Roth Capital reaffirmed a “buy” rating on shares of CareCloud in a report on Monday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $14.00.
Shares of MTBC stock opened at $3.43 on Thursday. The stock’s 50 day simple moving average is $4.58 and its 200 day simple moving average is $5.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.19 and a current ratio of 1.20. CareCloud has a twelve month low of $3.32 and a twelve month high of $9.39. The company has a market capitalization of $51.67 million, a price-to-earnings ratio of -4.34 and a beta of 1.09.
In other news, CEO A Hadi Chaudhry sold 3,240 shares of CareCloud stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $25.58, for a total transaction of $82,879.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 34.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in MTBC. Dimensional Fund Advisors LP boosted its stake in CareCloud by 274.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 111,713 shares of the technology company’s stock valued at $851,000 after buying an additional 81,902 shares in the last quarter. Millennium Management LLC acquired a new stake in CareCloud in the 4th quarter valued at $443,000. Gabelli Funds LLC boosted its stake in CareCloud by 125.6% in the 3rd quarter. Gabelli Funds LLC now owns 106,100 shares of the technology company’s stock valued at $808,000 after buying an additional 59,075 shares in the last quarter. Franklin Resources Inc. boosted its stake in CareCloud by 16.3% in the 3rd quarter. Franklin Resources Inc. now owns 390,791 shares of the technology company’s stock valued at $2,978,000 after buying an additional 54,700 shares in the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new stake in CareCloud in the 1st quarter valued at $258,000. 24.32% of the stock is currently owned by institutional investors and hedge funds.
About CareCloud (Get Rating)
CareCloud, Inc brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows, and make better business and care decisions. More than 40,000 providers across the United States count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs.
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