Healthcare Triangle, Inc. (NASDAQ:HCTI) Short Interest Update

Healthcare Triangle, Inc. (NASDAQ:HCTI) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 259,294 shares, a growth of 152.7% from the March 15th total of 102,611 shares. Currently, 35.4% of the shares of the company are sold short. Based on an average daily volume of 850,748 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC purchased a new position in shares of Healthcare Triangle during the 3rd quarter valued at $26,000. Jane Street Group LLC purchased a new position in shares of Healthcare Triangle during the 2nd quarter valued at $33,000. Finally, XTX Topco Ltd purchased a new position in shares of Healthcare Triangle during the 2nd quarter valued at $69,000. 0.33% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Triangle Trading Up 5.0%

Healthcare Triangle stock opened at $2.52 on Tuesday. Healthcare Triangle has a 1-year low of $2.24 and a 1-year high of $7,470.00. The firm has a market capitalization of $1.84 million, a price-to-earnings ratio of 0.00 and a beta of 1.15. The firm has a 50 day simple moving average of $4.77 and a 200 day simple moving average of $73.27.

Healthcare Triangle declared that its board has authorized a share repurchase plan on Wednesday, March 11th that allows the company to repurchase $2,000.00 billion in shares. This repurchase authorization allows the company to purchase up to 100,000,000% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Healthcare Triangle Company Profile

Healthcare Triangle, Inc (NASDAQ: HCTI) is a specialized digital transformation and cloud consulting firm focused on the healthcare industry. The company delivers a range of professional and managed services that help healthcare organizations modernize their IT infrastructure, optimize data workflows and achieve regulatory compliance.

Its core offerings include cloud architecture design and implementation, enterprise data platform development, application modernization and managed IT operations.