Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Expands By 31.4%

CareCloud, Inc. (NASDAQ:CCLD) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 66,500 shares, a growth of 31.4% from the October 31st total of 50,600 shares. Based on an average daily trading volume, of 92,600 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.8% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CCLD shares. Roth Capital downgraded CareCloud from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Roth Mkm downgraded shares of CareCloud from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $5.00 to $3.50 in a research note on Wednesday, November 13th. Finally, Benchmark restated a “buy” rating and set a $4.50 target price on shares of CareCloud in a report on Friday, November 15th.

CareCloud Stock Up 1.6 %

Shares of CareCloud stock traded up $0.05 during trading on Friday, reaching $3.16. The company’s stock had a trading volume of 97,367 shares, compared to its average volume of 551,024. The business has a 50 day moving average price of $2.60 and a 200-day moving average price of $2.48. The company has a market capitalization of $51.36 million, a P/E ratio of -0.99 and a beta of 1.37. CareCloud has a 12-month low of $0.68 and a 12-month high of $3.88.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in shares of CareCloud by 25.1% during the 2nd 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 in the last quarter. Heron Bay Capital Management raised its position in CareCloud by 126.8% in the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock valued at $66,000 after purchasing an additional 19,329 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of CareCloud during the third quarter worth about $42,000. 10.16% of the stock is currently owned by institutional investors and hedge funds.

CareCloud Company Profile

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.