CareCloud, Inc. (NASDAQ:CCLD) Short Interest Up 31.4% in November

CareCloud, Inc. (NASDAQ:CCLD) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 66,500 shares, an increase 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 currently 0.7 days. Currently, 0.8% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of brokerages have recently commented on CCLD. Roth Capital lowered shares of CareCloud from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Roth Mkm downgraded shares of CareCloud from a “buy” rating to a “neutral” rating and cut their target price for the stock from $5.00 to $3.50 in a research report on Wednesday, November 13th. Finally, Benchmark reissued a “buy” rating and set a $4.50 price target on shares of CareCloud in a report on Friday, November 15th.

CareCloud Stock Performance

Shares of NASDAQ CCLD traded up $0.05 during midday trading on Friday, hitting $3.16. 97,367 shares of the company’s stock traded hands, compared to its average volume of 170,018. The firm has a fifty day moving average of $2.60 and a 200 day moving average of $2.49. CareCloud has a 1 year low of $0.68 and a 1 year high of $3.88. The stock has a market capitalization of $51.35 million, a price-to-earnings ratio of -0.99 and a beta of 1.37.

Institutional Trading of CareCloud

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position 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 during the period. Heron Bay Capital Management lifted its position in CareCloud by 126.8% during 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 in the last quarter. Finally, XTX Topco Ltd purchased a new position in CareCloud during the third quarter valued at $42,000. 10.16% of the stock is owned by hedge funds and other institutional investors.

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.