Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Decreases By 40.1%

CareCloud, Inc. (NASDAQ:CCLD) saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 50,900 shares, a drop of 40.1% from the June 30th total of 85,000 shares. Based on an average daily trading volume, of 1,760,000 shares, the short-interest ratio is presently 0.0 days. Currently, 0.6% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Benchmark upped their price target on CareCloud from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th.

CareCloud Stock Performance

CCLD traded up $0.12 during trading on Friday, hitting $2.24. The stock had a trading volume of 29,138 shares, compared to its average volume of 828,120. The firm has a market cap of $36.18 million, a PE ratio of -0.59 and a beta of 1.33. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. CareCloud has a 12 month low of $0.68 and a 12 month high of $3.80. The company has a 50 day simple moving average of $2.38 and a 200-day simple moving average of $1.68.

CareCloud (NASDAQ:CCLD) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.30. The business had revenue of $25.96 million for the quarter, compared to analyst estimates of $26.55 million. CareCloud had a negative return on equity of 73.29% and a negative net margin of 42.92%. During the same period in the previous year, the company posted ($0.28) earnings per share. Analysts expect that CareCloud will post 0.36 EPS for the current year.

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.