CareCloud, Inc. (NASDAQ:CCLD) Sees Large Growth in Short Interest

CareCloud, Inc. (NASDAQ:CCLD - Get Free Report) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 96,900 shares, a growth of 19.0% from the December 31st total of 81,400 shares. Based on an average daily volume of 155,200 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.2% of the shares of the company are short sold.

Analyst Ratings Changes

A number of brokerages have weighed in on CCLD. Benchmark reaffirmed a "buy" rating and issued a $4.50 price target on shares of CareCloud in a research report on Friday, November 15th. Roth Capital downgraded CareCloud from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 13th. Finally, Roth Mkm lowered CareCloud from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $5.00 to $3.50 in a report on Wednesday, November 13th.

CareCloud Trading Up 1.3 %

Shares of CareCloud stock traded up $0.05 during trading on Wednesday, hitting $3.96. 75,492 shares of the stock traded hands, compared to its average volume of 120,739. The firm has a market cap of $64.37 million, a P/E ratio of -1.24 and a beta of 1.41. CareCloud has a 52-week low of $1.01 and a 52-week high of $4.84. The stock's fifty day simple moving average is $3.51 and its 200 day simple moving average is $2.87.

Insider Activity at CareCloud

In other news, Director John N. Daly sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $3.65, for a total value of $36,500.00. Following the completion of the sale, the director now directly owns 66,750 shares of the company's stock, valued at $243,637.50. This trade represents a 13.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 38.40% of the stock is currently owned by insiders.

Institutional Trading of CareCloud

A number of hedge funds and other institutional investors have recently made changes to their positions in CCLD. Renaissance Technologies LLC boosted its stake in CareCloud by 25.1% in the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company's stock valued at $206,000 after acquiring an additional 21,500 shares during the last quarter. Empowered Funds LLC raised its stake in shares of CareCloud by 51.2% during 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, XTX Topco Ltd purchased a new position in shares of CareCloud in the 3rd quarter valued at approximately $42,000. Institutional investors own 10.16% of the company's stock.

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.