Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Expands By 7.0%

CareCloud, Inc. (NASDAQ:CCLD) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 61,500 shares, a growth of 7.0% from the September 30th total of 57,500 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average trading volume of 81,200 shares, the short-interest ratio is presently 0.8 days.

Institutional Trading of CareCloud

A hedge fund recently raised its stake in CareCloud stock. Heron Bay Capital Management boosted its holdings in CareCloud, Inc. (NASDAQ:CCLD) by 126.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,576 shares of the company’s stock after buying an additional 19,329 shares during the quarter. Heron Bay Capital Management owned approximately 0.21% of CareCloud worth $66,000 at the end of the most recent quarter. Institutional investors own 10.16% of the company’s stock.

CareCloud Trading Down 1.3 %

NASDAQ:CCLD traded down $0.03 during trading hours on Friday, reaching $2.28. 14,233 shares of the stock were exchanged, compared to its average volume of 583,981. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average of $2.56 and a two-hundred day moving average of $2.26. CareCloud has a twelve month low of $0.68 and a twelve month high of $3.80. The company has a market capitalization of $36.96 million, a price-to-earnings ratio of -0.65 and a beta of 1.35.

CareCloud (NASDAQ:CCLD) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.10. The business had revenue of $28.09 million for the quarter, compared to analysts’ expectations of $27.89 million. CareCloud had a negative return on equity of 82.03% and a negative net margin of 40.28%. On average, equities analysts predict that CareCloud will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Benchmark increased their price objective on CareCloud from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, August 27th.

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.