iCAD, Inc. (NASDAQ:ICAD) Sees Significant Decline in Short Interest

iCAD, Inc. (NASDAQ:ICAD) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 786,500 shares, a drop of 13.5% from the August 15th total of 909,700 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average trading volume of 1,400,000 shares, the short-interest ratio is currently 0.6 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ICAD shares. StockNews.com started coverage on iCAD in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Lake Street Capital upped their price objective on shares of iCAD from $2.50 to $5.00 in a research note on Wednesday, July 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

Institutional Trading of iCAD

A number of institutional investors and hedge funds have recently modified their holdings of ICAD. Portolan Capital Management LLC bought a new position in iCAD during the 1st quarter worth about $4,041,000. Granahan Investment Management LLC boosted its position in iCAD by 12.7% during the 4th quarter. Granahan Investment Management LLC now owns 2,849,124 shares of the technology company’s stock worth $5,214,000 after acquiring an additional 321,285 shares during the last quarter. Pura Vida Investments LLC grew its stake in shares of iCAD by 25.9% during the 4th quarter. Pura Vida Investments LLC now owns 1,108,669 shares of the technology company’s stock worth $2,029,000 after acquiring an additional 228,111 shares in the last quarter. Millennium Management LLC bought a new position in shares of iCAD during the 2nd quarter worth approximately $861,000. Finally, General American Investors Co. Inc. bought a new stake in shares of iCAD in the first quarter worth $249,000. 26.75% of the stock is owned by institutional investors.

iCAD Trading Down 3.9 %

Shares of ICAD traded down $0.08 during mid-day trading on Tuesday, hitting $1.86. 341,097 shares of the company traded hands, compared to its average volume of 608,348. The stock has a market capitalization of $47.21 million, a price-to-earnings ratio of -3.79 and a beta of 1.32. The business has a 50-day moving average of $2.49 and a 200 day moving average of $1.82. iCAD has a one year low of $1.05 and a one year high of $3.97.

iCAD (NASDAQ:ICAD) last posted its quarterly earnings results on Monday, August 14th. The technology company reported ($0.07) earnings per share for the quarter. iCAD had a negative net margin of 51.13% and a negative return on equity of 36.14%. The company had revenue of $5.87 million during the quarter.

iCAD Company Profile

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Cancer Detection and Cancer Therapy. The company's breast AI suite includes cancer detection, automated density assessment, and breast cancer risk assessment solutions for both 2D and 3D mammography.