Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Expands By 19.0%

CareCloud, Inc. (NASDAQ:CCLD) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 96,900 shares, an increase of 19.0% from the December 15th total of 81,400 shares. Based on an average trading volume of 155,200 shares, the short-interest ratio is presently 0.6 days. Currently, 1.2% of the company’s shares are short sold.

Insider Transactions at CareCloud

In related news, Director John N. Daly sold 10,000 shares of the company’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 transaction, the director now directly owns 66,750 shares in the company, valued at approximately $243,637.50. This represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 38.40% of the company’s stock.

Hedge Funds Weigh In On CareCloud

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position in shares of CareCloud by 25.1% during the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock worth $206,000 after purchasing an additional 21,500 shares in the last quarter. Heron Bay Capital Management increased its stake in CareCloud by 126.8% during the 2nd quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock worth $66,000 after buying an additional 19,329 shares during the period. Finally, XTX Topco Ltd purchased a new stake in CareCloud during the 3rd quarter worth approximately $42,000. 10.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCLD has been the topic of several recent analyst reports. Roth Mkm lowered CareCloud from a “buy” rating to a “neutral” rating and decreased their price target for the company from $5.00 to $3.50 in a research note on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and issued a $4.50 target price on shares of CareCloud in a research report on Friday, November 15th. Finally, Roth Capital cut shares of CareCloud from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

CareCloud Stock Up 5.3 %

NASDAQ:CCLD traded up $0.14 during trading hours on Friday, reaching $2.79. 82,984 shares of the stock were exchanged, compared to its average volume of 106,095. CareCloud has a twelve month low of $1.01 and a twelve month high of $4.84. The business has a 50-day moving average of $3.35 and a two-hundred day moving average of $2.74. The company has a market capitalization of $45.35 million, a price-to-earnings ratio of -0.87 and a beta of 1.40.

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.