CareCloud, Inc. (NASDAQ:CCLD) Sees Significant Growth in Short Interest

CareCloud, Inc. (NASDAQ:CCLD) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 96,900 shares, a growth of 19.0% from the December 15th total of 81,400 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily volume of 155,200 shares, the days-to-cover ratio is presently 0.6 days.

CareCloud Price Performance

Shares of CareCloud stock traded up $0.14 during trading on Friday, hitting $2.79. 82,984 shares of the company were exchanged, compared to its average volume of 106,095. The firm has a market capitalization of $45.37 million, a P/E ratio of -0.87 and a beta of 1.40. The firm’s fifty day moving average price is $3.35 and its 200 day moving average price is $2.74. CareCloud has a 1-year low of $1.01 and a 1-year high of $4.84.

Insider Activity

In related news, Director John N. Daly sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $3.65, for a total value of $36,500.00. Following the transaction, the director now owns 66,750 shares in the company, valued at $243,637.50. This trade represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 38.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CCLD. Renaissance Technologies LLC increased its position in shares of CareCloud by 25.1% during the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock worth $206,000 after acquiring an additional 21,500 shares in the last quarter. Heron Bay Capital Management lifted its position in shares of CareCloud by 126.8% in 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 in the last quarter. Finally, XTX Topco Ltd acquired a new stake in CareCloud in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 10.16% of the company’s stock.

Analyst Ratings Changes

CCLD has been the topic of several recent research reports. Roth Capital lowered shares of CareCloud from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Benchmark restated a “buy” rating and issued a $4.50 price objective on shares of CareCloud in a report on Friday, November 15th. Finally, Roth Mkm lowered shares of CareCloud from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $5.00 to $3.50 in a report on Wednesday, November 13th.

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.