Maxim Group Cuts mCloud Technologies (NASDAQ:MCLD) Price Target to $2.00

mCloud Technologies (NASDAQ:MCLD – Get Rating) had its price objective lowered by Maxim Group from $4.00 to $2.00 in a research report report published on Monday morning, The Fly reports.

Separately, Alliance Global Partners downgraded mCloud Technologies from a buy rating to a neutral rating in a research note on Tuesday, November 15th.

mCloud Technologies Trading Up 2.2 %

Shares of MCLD stock opened at $0.94 on Monday. The company has a market cap of $15.26 million and a price-to-earnings ratio of -9.40. The stock has a 50 day simple moving average of $1.18 and a 200-day simple moving average of $2.19. mCloud Technologies has a 12-month low of $0.81 and a 12-month high of $5.01.

Hedge Funds Weigh In On mCloud Technologies

An institutional investor recently bought a new position in mCloud Technologies stock. Raymond James & Associates purchased a new position in shares of mCloud Technologies Corp (NASDAQ:MCLD – Get Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,077 shares of the company’s stock, valued at approximately $104,000. Raymond James & Associates owned approximately 0.15% of mCloud Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 1.42% of the company’s stock.

mCloud Technologies Company Profile

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mCloud is unlocking the untapped potential of energy-intensive assets with AI and analytics, curbing energy waste, maximizing energy production, and getting the most out of critical energy infrastructure. Through mCloud’s AI-powered AssetCare™ platform, mCloud offers complete asset management solutions for commercial buildings, renewable energy, healthcare, heavy industry, and connected workers.