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

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 81,500 shares, a decline of 15.9% from the December 31st total of 96,900 shares. Based on an average trading volume of 168,300 shares, the short-interest ratio is currently 0.5 days. Approximately 1.0% of the company’s shares are short sold.

Insiders Place Their Bets

In other news, Director John N. Daly sold 10,000 shares of CareCloud stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $3.65, for a total transaction of $36,500.00. Following the sale, the director now directly owns 66,750 shares of the company’s stock, valued at approximately $243,637.50. The trade was a 13.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 38.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CareCloud

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased 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 acquiring an additional 21,500 shares during the last quarter. Empowered Funds LLC raised its stake in CareCloud by 51.2% in the fourth quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock valued at $224,000 after buying an additional 20,750 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of CareCloud during the third quarter valued at $42,000. Hedge funds and other institutional investors own 10.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CCLD. Benchmark reissued a “buy” rating and issued a $4.50 price objective on shares of CareCloud in a research note on Friday, November 15th. Roth Mkm downgraded CareCloud from a “buy” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $3.50 in a research note on Wednesday, November 13th. Finally, Roth Capital downgraded CareCloud from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th.

CareCloud Price Performance

CCLD stock traded up $0.30 during mid-day trading on Monday, hitting $3.74. 254,174 shares of the stock were exchanged, compared to its average volume of 121,270. The stock has a market capitalization of $60.81 million, a price-to-earnings ratio of -1.17 and a beta of 1.41. CareCloud has a 12 month low of $1.01 and a 12 month high of $4.84. The business has a fifty day moving average price of $3.50 and a 200 day moving average price of $2.85.

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.