CareCloud, Inc. (NASDAQ:CCLD) Short Interest Down 15.9% in January

CareCloud, Inc. (NASDAQ:CCLD - Get Free Report) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 81,500 shares, a decrease of 15.9% from the December 31st total of 96,900 shares. Based on an average daily volume of 168,300 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.0% of the company's stock are sold short.

Insider Activity at CareCloud

In other CareCloud news, Director John N. Daly sold 10,000 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $3.65, for a total value of $36,500.00. Following the completion of the transaction, the director now owns 66,750 shares in the company, valued at $243,637.50. This represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 38.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CareCloud

Several large investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new position in CareCloud in the 3rd quarter valued at $42,000. Empowered Funds LLC boosted its holdings in shares of CareCloud by 51.2% in the fourth quarter. Empowered Funds LLC now owns 61,240 shares of the company's stock valued at $224,000 after acquiring an additional 20,750 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of CareCloud by 25.1% during the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company's stock worth $206,000 after acquiring an additional 21,500 shares during the period. Hedge funds and other institutional investors own 10.16% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Benchmark reissued a "buy" rating and issued a $4.50 target price on shares of CareCloud in a research report on Friday, November 15th. Roth Mkm downgraded CareCloud from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $5.00 to $3.50 in a report on Wednesday, November 13th. Finally, Roth Capital cut shares of CareCloud from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 13th.

CareCloud Stock Up 1.2 %

CCLD traded up $0.05 on Friday, hitting $4.13. 80,411 shares of the company traded hands, compared to its average volume of 116,586. CareCloud has a 12-month low of $1.01 and a 12-month high of $4.84. The company has a 50 day moving average of $3.55 and a 200-day moving average of $2.88. The stock has a market capitalization of $67.15 million, a PE ratio of -1.29 and a beta of 1.41.

About CareCloud

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.