iCAD, Inc. (NASDAQ:ICAD) Sees Large Drop in Short Interest

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

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of iCAD from a "hold" rating to a "sell" rating in a research note on Friday.

iCAD Price Performance

NASDAQ:ICAD traded up $0.24 during mid-day trading on Tuesday, reaching $3.30. The stock had a trading volume of 592,750 shares, compared to its average volume of 661,625. iCAD has a 12 month low of $1.18 and a 12 month high of $3.78. The stock has a market capitalization of $87.58 million, a PE ratio of -25.38 and a beta of 1.47. The stock has a 50-day simple moving average of $2.09 and a two-hundred day simple moving average of $1.77.

Institutional Trading of iCAD

Several institutional investors and hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. acquired a new position in iCAD during the fourth quarter worth about $31,000. Summit Trail Advisors LLC bought a new stake in shares of iCAD during the 4th quarter valued at approximately $214,000. waypoint wealth counsel increased its position in iCAD by 44.0% during the 4th quarter. waypoint wealth counsel now owns 14,400 shares of the technology company's stock worth $26,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Essex LLC bought a new position in iCAD in the 3rd quarter valued at approximately $216,000. 24.61% of the stock is currently owned by institutional investors.

About iCAD

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.