CareCloud, Inc. (NASDAQ:CCLD) Short Interest Update

CareCloud, Inc. (NASDAQ:CCLD) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 557,523 shares, a growth of 22.2% from the December 15th total of 456,054 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average trading volume of 251,370 shares, the short-interest ratio is currently 2.2 days. Based on an average trading volume of 251,370 shares, the short-interest ratio is currently 2.2 days. Approximately 1.5% of the company’s stock are short sold.

Insider Activity

In other news, Director John N. Daly sold 15,000 shares of CareCloud stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $3.41, for a total transaction of $51,150.00. Following the sale, the director directly owned 51,750 shares of the company’s stock, valued at approximately $176,467.50. The trade was a 22.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Prospera Financial Services Inc raised its stake in CareCloud by 31.8% during the second quarter. Prospera Financial Services Inc now owns 75,966 shares of the company’s stock worth $179,000 after acquiring an additional 18,339 shares during the period. Hillsdale Investment Management Inc. boosted its stake in CareCloud by 61.8% in the second quarter. Hillsdale Investment Management Inc. now owns 130,900 shares of the company’s stock valued at $309,000 after acquiring an additional 50,000 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of CareCloud during the second quarter valued at approximately $50,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of CareCloud during the 2nd quarter worth approximately $260,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of CareCloud during the 3rd quarter worth approximately $139,000. 10.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCLD has been the topic of several analyst reports. Wall Street Zen upgraded CareCloud from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. ThinkEquity began coverage on shares of CareCloud in a research report on Monday, November 24th. They set a “buy” rating for the company. Roth Capital restated a “neutral” rating and issued a $3.25 price target on shares of CareCloud in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CareCloud in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.38.

CareCloud Price Performance

Shares of CCLD opened at $2.90 on Wednesday. CareCloud has a 52 week low of $1.14 and a 52 week high of $4.75. The company has a current ratio of 1.26, a quick ratio of 1.24 and a debt-to-equity ratio of 0.12. The firm has a market cap of $122.96 million, a price-to-earnings ratio of 72.52 and a beta of 1.99. The stock has a 50 day moving average of $3.05 and a 200-day moving average of $3.04.

CareCloud (NASDAQ:CCLD) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $31.07 million for the quarter, compared to analyst estimates of $29.01 million. CareCloud had a return on equity of 24.31% and a net margin of 9.80%. As a group, analysts forecast that CareCloud will post 0.58 EPS for the current year.

CareCloud Company Profile

CareCloud, Inc is a healthcare technology company that provides cloud-based practice management, electronic health record (EHR) and revenue cycle management (RCM) solutions to medical practices and health systems. Its flagship offering, the CareCloud Central platform, combines clinical, financial and administrative workflows into a single, unified system. The platform includes modules for scheduling, billing, coding, patient engagement and telehealth, enabling practices to streamline front- and back-office operations and improve overall practice performance.

Founded in 2009 and headquartered in Miami Beach, Florida, CareCloud serves small to mid-size physician groups and specialty clinics across the United States.