Hillsdale Investment Management Inc. Invests $252,000 in CareCloud, Inc. (NASDAQ:CCLD)

Hillsdale Investment Management Inc. acquired a new position in CareCloud, Inc. (NASDAQ:CCLD) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 68,900 shares of the company’s stock, valued at approximately $252,000.

Separately, Empowered Funds LLC lifted its position in shares of CareCloud by 51.2% in the fourth quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock worth $224,000 after buying an additional 20,750 shares during the last quarter. Hedge funds and other institutional investors own 10.16% of the company’s stock.

CareCloud Stock Performance

CareCloud stock opened at $1.53 on Tuesday. CareCloud, Inc. has a 52 week low of $1.01 and a 52 week high of $4.84. The firm has a market capitalization of $24.87 million, a PE ratio of -0.48 and a beta of 1.55. The business’s 50-day simple moving average is $3.05 and its 200-day simple moving average is $2.99.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CCLD. Roth Mkm reissued a “neutral” rating and issued a $1.50 price objective (down from $3.50) on shares of CareCloud in a research note on Friday, March 14th. Roth Capital set a $1.50 price target on shares of CareCloud in a research report on Thursday, March 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.