Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Expands By 991.1%

CareCloud, Inc. (NASDAQ:CCLD) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,390,000 shares, an increase of 991.1% from the February 28th total of 127,400 shares. Based on an average daily trading volume, of 758,300 shares, the days-to-cover ratio is currently 1.8 days. Currently, 6.4% of the company’s stock are short sold.

CareCloud Trading Down 3.9 %

Shares of CareCloud stock opened at $1.48 on Friday. The company has a market capitalization of $62.63 million, a P/E ratio of -0.46 and a beta of 1.55. The stock has a fifty day simple moving average of $2.98 and a 200 day simple moving average of $2.97. CareCloud has a 12-month low of $1.01 and a 12-month high of $4.84.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Roth Mkm reissued a “neutral” rating and issued a $1.50 price objective (down previously from $3.50) on shares of CareCloud in a research note on Friday, March 14th. Roth Capital set a $1.50 price objective on shares of CareCloud in a report on Thursday, March 13th.

Institutional Trading of CareCloud

Hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. bought a new stake in CareCloud in the 4th quarter valued at about $252,000. Heron Bay Capital Management boosted its stake in CareCloud by 48.5% during the fourth quarter. Heron Bay Capital Management now owns 101,119 shares of the company’s stock valued at $370,000 after buying an additional 33,033 shares during the period. Two Sigma Advisers LP purchased a new position in shares of CareCloud during the fourth quarter worth about $81,000. 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 purchasing an additional 20,750 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in CareCloud during the third quarter valued at approximately $42,000. Institutional investors own 10.16% of the company’s stock.

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.