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

CareCloud, Inc. (NASDAQ:CCLD) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 96,900 shares, a growth of 19.0% from the December 15th total of 81,400 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average trading volume of 155,200 shares, the days-to-cover ratio is currently 0.6 days.

Insider Activity

In related news, Director John N. Daly sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $3.65, for a total value of $36,500.00. Following the sale, the director now owns 66,750 shares of the company’s stock, valued at approximately $243,637.50. This trade represents a 13.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 38.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of CareCloud during the 3rd quarter worth about $42,000. Heron Bay Capital Management lifted its holdings in shares of CareCloud by 126.8% during the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock worth $66,000 after buying an additional 19,329 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of CareCloud by 25.1% in 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 period. Institutional investors and hedge funds own 10.16% of the company’s stock.

CareCloud Stock Up 5.3 %

Shares of NASDAQ:CCLD traded up $0.14 during trading on Friday, reaching $2.79. The stock had a trading volume of 82,984 shares, compared to its average volume of 106,095. The stock has a fifty day simple moving average of $3.35 and a two-hundred day simple moving average of $2.74. CareCloud has a 52 week low of $1.01 and a 52 week high of $4.84. The firm has a market capitalization of $45.35 million, a price-to-earnings ratio of -0.87 and a beta of 1.40.

Analyst Upgrades and Downgrades

CCLD has been the subject of a number of research reports. Roth Capital cut shares of CareCloud from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Roth Mkm lowered shares of CareCloud from a “buy” rating to a “neutral” rating and decreased their target price for the company from $5.00 to $3.50 in a research note on Wednesday, November 13th. Finally, Benchmark reiterated a “buy” rating and set a $4.50 price objective on shares of CareCloud in a report on Friday, November 15th.

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.