Healthcare Triangle (NASDAQ:HCTI) Authorizes Stock Repurchase Program

Healthcare Triangle (NASDAQ:HCTI) announced that its board has approved a share buyback program on Wednesday, March 11th, RTT News reports. The company plans to repurchase $2,000.00 billion in shares. This repurchase authorization allows the company to buy up to 100,000,000% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HCTI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a report on Thursday, January 22nd. Wall Street Zen downgraded Healthcare Triangle from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Healthcare Triangle has a consensus rating of “Sell”.

Healthcare Triangle Price Performance

NASDAQ HCTI opened at $3.06 on Thursday. The stock has a market capitalization of $2.23 million, a price-to-earnings ratio of 0.00 and a beta of 1.02. Healthcare Triangle has a 1-year low of $2.46 and a 1-year high of $7,470.00. The business’s fifty day moving average price is $15.54 and its 200-day moving average price is $97.01.

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.