Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Expands By 1,016.4%

CareCloud, Inc. (NASDAQ:CCLDGet Free Report) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 906,500 shares, a growth of 1,016.4% from the April 30th total of 81,200 shares. Currently, 11.0% of the shares of the company are short sold. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is presently 0.5 days.

Wall Street Analyst Weigh In

CCLD has been the topic of several analyst reports. Benchmark raised their price target on shares of CareCloud from $3.50 to $4.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Maxim Group raised shares of CareCloud from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research note on Friday, March 22nd.

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CareCloud Stock Performance

NASDAQ:CCLD opened at $2.76 on Wednesday. CareCloud has a 1 year low of $0.68 and a 1 year high of $3.58. The firm’s fifty day simple moving average is $1.49 and its 200 day simple moving average is $1.35. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $44.49 million, a PE ratio of -0.72 and a beta of 1.07.

CareCloud (NASDAQ:CCLDGet Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.30. CareCloud had a negative net margin of 42.92% and a negative return on equity of 73.29%. The company had revenue of $25.96 million for the quarter, compared to analyst estimates of $26.55 million. During the same period last year, the business posted ($0.28) EPS. On average, sell-side analysts anticipate that CareCloud will post 0.36 EPS for the current year.

About CareCloud

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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.

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