iCAD (NASDAQ:ICAD) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of iCAD (NASDAQ:ICAD) from a hold rating to a sell rating in a research note released on Thursday morning.

Several other research firms have also issued reports on ICAD. BTIG Research lowered shares of iCAD from a “buy” rating to a “neutral” rating in a report on Wednesday. Laidlaw restated a “hold” rating on shares of iCAD in a research report on Thursday.

iCAD Price Performance

Shares of ICAD stock opened at $3.22 on Thursday. iCAD has a 1 year low of $1.18 and a 1 year high of $3.78. The firm has a fifty day moving average price of $2.36 and a 200-day moving average price of $2.12. The company has a market cap of $88.12 million, a price-to-earnings ratio of -24.77 and a beta of 1.78.

iCAD (NASDAQ:ICAD) last released its quarterly earnings results on Wednesday, March 19th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. iCAD had a negative return on equity of 15.65% and a negative net margin of 17.81%. The business had revenue of $5.41 million during the quarter, compared to analyst estimates of $4.72 million.

Hedge Funds Weigh In On iCAD

A number of hedge funds have recently made changes to their positions in ICAD. Granahan Investment Management LLC purchased a new position in iCAD in the 4th quarter worth approximately $96,000. Integrated Wealth Concepts LLC bought a new stake in shares of iCAD during the fourth quarter valued at approximately $92,000. Wells Fargo & Company MN lifted its holdings in shares of iCAD by 51.3% in the fourth quarter. Wells Fargo & Company MN now owns 39,542 shares of the technology company’s stock worth $72,000 after buying an additional 13,402 shares in the last quarter. Perritt Capital Management Inc boosted its position in shares of iCAD by 1.9% during the fourth quarter. Perritt Capital Management Inc now owns 189,100 shares of the technology company’s stock worth $346,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of iCAD by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 276,493 shares of the technology company’s stock worth $506,000 after acquiring an additional 17,059 shares during the last quarter. Institutional investors own 24.61% of the company’s stock.

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.