iCAD, Inc. (NASDAQ:ICAD) Sees Significant Decline in Short Interest

iCAD, Inc. (NASDAQ:ICAD - Get Free Report) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 215,000 shares, a drop of 14.5% from the December 15th total of 251,500 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 268,000 shares, the short-interest ratio is currently 0.8 days.

Institutional Trading of iCAD

An institutional investor recently bought a new position in iCAD stock. Essex LLC purchased a new position in shares of iCAD, Inc. (NASDAQ:ICAD - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 137,963 shares of the technology company's stock, valued at approximately $216,000. Essex LLC owned approximately 0.52% of iCAD at the end of the most recent reporting period. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

iCAD Stock Performance

Shares of ICAD traded up $0.07 during trading hours on Friday, reaching $1.97. 698,862 shares of the company traded hands, compared to its average volume of 201,917. iCAD has a 1-year low of $1.18 and a 1-year high of $2.65. The stock has a market cap of $52.15 million, a P/E ratio of -15.12 and a beta of 1.40. The stock's fifty day moving average is $1.84 and its 200 day moving average is $1.64.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of iCAD from a "sell" rating to a "hold" rating in a research note on Thursday, November 21st.

iCAD Company Profile

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.

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