iCAD (NASDAQ:ICAD) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of iCAD, Inc. (NASDAQ:ICAD) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.54 and traded as high as $2.42. iCAD shares last traded at $2.34, with a volume of 484,462 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded iCAD from a “hold” rating to a “sell” rating in a research report on Wednesday.

iCAD Stock Down 8.1 %

The firm has a 50-day moving average price of $1.71 and a 200 day moving average price of $1.54. The firm has a market capitalization of $43.53 million, a PE ratio of -12.62 and a beta of 1.47.

iCAD (NASDAQ:ICAD) last posted its quarterly earnings results on Tuesday, August 13th. The technology company reported ($0.07) EPS for the quarter. iCAD had a negative return on equity of 15.30% and a negative net margin of 17.81%. The firm had revenue of $5.03 million for the quarter.

Hedge Funds Weigh In On iCAD

A number of large investors have recently made changes to their positions in ICAD. Virtu Financial LLC increased its holdings in iCAD by 55.6% in the first quarter. Virtu Financial LLC now owns 21,286 shares of the technology company’s stock valued at $34,000 after buying an additional 7,604 shares in the last quarter. Perritt Capital Management Inc. increased its position in shares of iCAD by 7.5% in the first quarter. Perritt Capital Management Inc. now owns 139,983 shares of the technology company’s stock valued at $225,000 after buying an additional 9,717 shares in the last quarter. Perritt Capital Management Inc boosted its position in shares of iCAD by 14.2% in the 2nd quarter. Perritt Capital Management Inc now owns 159,900 shares of the technology company’s stock worth $208,000 after buying an additional 19,917 shares in the last quarter. First Eagle Investment Management LLC grew its stake in iCAD by 3.2% in the 1st quarter. First Eagle Investment Management LLC now owns 701,525 shares of the technology company’s stock valued at $1,129,000 after acquiring an additional 22,000 shares during the last quarter. Finally, Essex LLC purchased a new position in iCAD during the 3rd quarter valued at about $216,000. Hedge funds and other 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.