mCloud Technologies Corp (NASDAQ:MCLD) Sees Large Growth in Short Interest

mCloud Technologies Corp (NASDAQ:MCLDGet Rating) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 252,300 shares, an increase of 72.7% from the October 15th total of 146,100 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 229,700 shares, the short-interest ratio is currently 1.1 days.

Hedge Funds Weigh In On mCloud Technologies

An institutional investor recently bought a new position in mCloud Technologies stock. Raymond James & Associates bought a new stake in shares of mCloud Technologies Corp (NASDAQ:MCLDGet Rating) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,077 shares of the company’s stock, valued at approximately $104,000. Raymond James & Associates owned about 0.15% of mCloud Technologies at the end of the most recent reporting period. Institutional investors and hedge funds own 1.42% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Maxim Group reissued a “buy” rating and issued a $4.00 price objective on shares of mCloud Technologies in a research note on Friday, August 19th. Alliance Global Partners decreased their price objective on mCloud Technologies from $4.00 to $2.50 and set a “buy” rating for the company in a report on Tuesday, October 25th.

mCloud Technologies Price Performance

Shares of MCLD stock opened at $0.97 on Monday. The firm has a 50-day moving average of $1.52 and a 200-day moving average of $2.34. mCloud Technologies has a one year low of $0.81 and a one year high of $5.01. The company has a market cap of $15.72 million and a P/E ratio of -1.45.

mCloud Technologies (NASDAQ:MCLDGet Rating) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.27 earnings per share (EPS) for the quarter. mCloud Technologies had a negative net margin of 41.63% and a negative return on equity of 580.31%. The business had revenue of $1.78 million during the quarter.

About mCloud Technologies

(Get Rating)

mCloud is unlocking the untapped potential of energy-intensive assets with AI and analytics, curbing energy waste, maximizing energy production, and getting the most out of critical energy infrastructure. Through mCloud’s AI-powered AssetCare™ platform, mCloud offers complete asset management solutions for commercial buildings, renewable energy, healthcare, heavy industry, and connected workers.

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