CareCloud (NASDAQ:CCLD) Stock Rating Lowered by Roth Mkm

Roth Mkm lowered shares of CareCloud (NASDAQ:CCLD) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports. Roth Mkm currently has $3.50 price target on the stock, down from their prior price target of $5.00.

Separately, Benchmark raised their target price on shares of CareCloud from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, August 27th.

CareCloud Stock Down 17.4 %

Shares of CCLD opened at $2.62 on Wednesday. CareCloud has a 12 month low of $0.68 and a 12 month high of $3.88. The firm’s 50 day moving average is $2.54 and its 200-day moving average is $2.36. The stock has a market capitalization of $42.47 million, a PE ratio of -0.82 and a beta of 1.37. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.12.

CareCloud (NASDAQ:CCLD) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.10. The business had revenue of $28.09 million for the quarter, compared to analyst estimates of $27.89 million. CareCloud had a negative net margin of 35.25% and a negative return on equity of 90.27%. Equities research analysts forecast that CareCloud will post 0.58 EPS for the current year.

Hedge Funds Weigh In On CareCloud

A hedge fund recently raised its stake in CareCloud stock. Renaissance Technologies LLC increased its position in shares of CareCloud, Inc. (NASDAQ:CCLD) by 25.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,200 shares of the company’s stock after buying an additional 21,500 shares during the period. Renaissance Technologies LLC owned 0.66% of CareCloud worth $206,000 at the end of the most recent reporting period. 10.16% of the stock is currently owned by institutional investors and hedge funds.

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.