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

CareCloud, Inc. (NASDAQ:CCLD - Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 391,800 shares, a decrease of 71.8% from the March 15th total of 1,390,000 shares. Based on an average daily volume of 835,200 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.8% of the company's stock are short sold.

CareCloud Price Performance

Shares of CareCloud stock traded up $0.04 during trading hours on Friday, hitting $1.42. 132,105 shares of the company's stock traded hands, compared to its average volume of 745,051. The stock has a market capitalization of $60.10 million, a price-to-earnings ratio of -0.44 and a beta of 2.00. CareCloud has a 12-month low of $1.01 and a 12-month high of $4.84. The company has a fifty day simple moving average of $2.15 and a 200-day simple moving average of $2.80.

Institutional Trading of CareCloud

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in shares of CareCloud by 7.0% in the 4th quarter. Renaissance Technologies LLC now owns 124,100 shares of the company's stock worth $454,000 after purchasing an additional 8,100 shares during the period. Heron Bay Capital Management grew its stake in shares of CareCloud by 48.5% during the 4th quarter. Heron Bay Capital Management now owns 101,119 shares of the company's stock worth $370,000 after acquiring an additional 33,033 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in CareCloud in the 4th quarter worth about $252,000. Empowered Funds LLC raised its stake in CareCloud by 51.2% in the 4th 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 during the period. Finally, Two Sigma Advisers LP purchased a new stake in CareCloud during the fourth quarter valued at about $81,000. Institutional investors own 10.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CCLD. Roth Capital set a $1.50 price target on CareCloud in a report on Thursday, March 13th. Roth Mkm reiterated a "neutral" rating and issued a $1.50 target price (down previously from $3.50) on shares of CareCloud in a report on Friday, March 14th.

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.