StockNews.com Begins Coverage on CareCloud (NASDAQ:MTBC)

StockNews.com initiated coverage on shares of CareCloud (NASDAQ:MTBCGet Rating) in a research note issued on Thursday. The brokerage set a “buy” rating on the technology company’s stock.

MTBC has been the subject of several other research reports. Roth Capital reaffirmed a “buy” rating on shares of CareCloud in a research note on Monday, May 9th. TheStreet cut shares of CareCloud from a “c-” rating to a “d+” rating in a research note on Friday, April 1st. Finally, B. Riley dropped their price target on shares of CareCloud from $18.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, March 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, CareCloud presently has a consensus rating of “Buy” and a consensus target price of $14.00.

Shares of NASDAQ MTBC opened at $3.63 on Thursday. CareCloud has a 12-month low of $3.25 and a 12-month high of $9.39. The stock has a market cap of $54.69 million, a PE ratio of -5.85 and a beta of 1.09. The company has a current ratio of 1.31, a quick ratio of 1.29 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $4.35 and a 200 day moving average of $5.42.

CareCloud (NASDAQ:MTBCGet Rating) last announced its quarterly earnings data on Monday, May 9th. The technology company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. CareCloud had a net margin of 4.09% and a return on equity of 6.01%. During the same quarter in the previous year, the firm posted ($0.36) earnings per share. On average, sell-side analysts forecast that CareCloud will post -0.53 EPS for the current fiscal year.

In other news, CEO A Hadi Chaudhry sold 3,240 shares of the stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $25.58, for a total value of $82,879.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 34.90% of the company’s stock.

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in shares of CareCloud in the 4th quarter worth approximately $27,000. Morgan Stanley lifted its holdings in shares of CareCloud by 157.5% in the 2nd quarter. Morgan Stanley now owns 5,767 shares of the technology company’s stock worth $49,000 after acquiring an additional 3,527 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of CareCloud in the 1st quarter worth approximately $56,000. Commonwealth Equity Services LLC acquired a new position in shares of CareCloud in the 4th quarter worth approximately $79,000. Finally, National Asset Management Inc. lifted its holdings in shares of CareCloud by 37.1% in the 4th quarter. National Asset Management Inc. now owns 16,435 shares of the technology company’s stock worth $104,000 after acquiring an additional 4,450 shares during the last quarter. Hedge funds and other institutional investors own 24.32% of the company’s stock.

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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