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

Roth Capital downgraded shares of CareCloud (NASDAQ:CCLD) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on CCLD. Benchmark lifted their target price on CareCloud from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Roth Mkm cut CareCloud from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $5.00 to $3.50 in a research note on Wednesday.

CareCloud Price Performance

Shares of CCLD opened at $2.47 on Wednesday. The firm’s 50 day moving average is $2.54 and its 200-day moving average is $2.37. CareCloud has a 12-month low of $0.68 and a 12-month high of $3.88. The stock has a market capitalization of $40.11 million, a P/E ratio of -0.77 and a beta of 1.37.

CareCloud (NASDAQ:CCLD) last issued its earnings results on Tuesday, August 13th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. The firm had revenue of $28.09 million during the quarter, compared to analysts’ expectations of $27.89 million. CareCloud had a negative net margin of 35.25% and a negative return on equity of 87.98%. As a group, equities research analysts forecast that CareCloud will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new position in CareCloud during the 3rd quarter valued at about $42,000. Heron Bay Capital Management boosted its holdings in shares of CareCloud by 126.8% during the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock worth $66,000 after purchasing an additional 19,329 shares during the period. Finally, Renaissance Technologies LLC grew its position in CareCloud by 25.1% during the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after purchasing an additional 21,500 shares in the last quarter. 10.16% of the stock is owned by institutional investors and hedge funds.

CareCloud Company Profile

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.