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

iCAD, Inc. (NASDAQ:ICAD) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 249,100 shares, a growth of 5.7% from the October 15th total of 235,600 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 171,900 shares, the days-to-cover ratio is presently 1.4 days.

Analysts Set New Price Targets

Separately, StockNews.com downgraded iCAD from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th.

Hedge Funds Weigh In On iCAD

Several institutional investors have recently modified their holdings of the business. Essex LLC bought a new position in shares of iCAD in the third quarter valued at approximately $216,000. Perritt Capital Management Inc grew its holdings in iCAD by 14.2% during the second quarter. Perritt Capital Management Inc now owns 159,900 shares of the technology company’s stock valued at $208,000 after purchasing an additional 19,917 shares during the period. Virtu Financial LLC grew its holdings in iCAD by 55.6% during the first quarter. Virtu Financial LLC now owns 21,286 shares of the technology company’s stock valued at $34,000 after purchasing an additional 7,604 shares during the period. Finally, Perritt Capital Management Inc. grew its holdings in iCAD by 7.5% during the first quarter. Perritt Capital Management Inc. now owns 139,983 shares of the technology company’s stock valued at $225,000 after purchasing an additional 9,717 shares during the period. 24.61% of the stock is owned by institutional investors.

iCAD Stock Performance

Shares of iCAD stock traded up $0.12 on Tuesday, hitting $1.64. The company had a trading volume of 214,995 shares, compared to its average volume of 173,729. The stock has a market capitalization of $43.53 million, a price-to-earnings ratio of -12.03 and a beta of 1.47. iCAD has a 1 year low of $1.18 and a 1 year high of $2.65. The stock has a 50 day moving average of $1.71 and a 200-day moving average of $1.54.

About iCAD

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.