CareCloud (NASDAQ:CCLD) Shares Up 0.6% – Here’s Why

CareCloud, Inc. (NASDAQ:CCLD) shares traded up 0.6% during mid-day trading on Monday . The stock traded as high as $3.58 and last traded at $3.38. 322,685 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 504,921 shares. The stock had previously closed at $3.36.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded CareCloud from a “hold” rating to a “buy” rating in a research note on Sunday, July 13th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.50.

CareCloud Stock Up 0.6%

The stock has a market capitalization of $143.05 million, a PE ratio of -84.50 and a beta of 2.14. The company has a 50-day moving average of $3.05 and a 200 day moving average of $2.32.

CareCloud (NASDAQ:CCLD) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). CareCloud had a return on equity of 23.51% and a net margin of 10.08%.The firm had revenue of $27.38 million for the quarter, compared to analysts’ expectations of $27.19 million. CareCloud has set its FY 2025 guidance at 0.100-0.130 EPS. As a group, equities analysts predict that CareCloud, Inc. will post 0.58 EPS for the current fiscal year.

Institutional Trading of CareCloud

Large investors have recently made changes to their positions in the company. HighTower Advisors LLC purchased a new stake in shares of CareCloud during the first quarter worth approximately $28,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of CareCloud during the second quarter worth approximately $50,000. Two Sigma Advisers LP purchased a new stake in shares of CareCloud during the fourth quarter worth approximately $81,000. XTX Topco Ltd purchased a new stake in CareCloud in the 1st quarter valued at $35,000. Finally, Kingsview Wealth Management LLC purchased a new stake in CareCloud in the 1st quarter valued at $36,000. 10.16% of the stock is currently owned by hedge funds and other institutional investors.

CareCloud Company Profile

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.