Healthcare Triangle (NASDAQ:HCTI) Posts Earnings Results

Healthcare Triangle (NASDAQ:HCTI) released its earnings results on Wednesday. The company reported $999.00 EPS for the quarter, Zacks reports.

Healthcare Triangle Stock Performance

NASDAQ:HCTI opened at $2.53 on Thursday. The stock has a 50-day simple moving average of $4.30 and a two-hundred day simple moving average of $71.75. Healthcare Triangle has a 52-week low of $2.24 and a 52-week high of $7,470.00. The firm has a market capitalization of $1.86 million, a PE ratio of 0.00 and a beta of 1.15.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Healthcare Triangle in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Trading of Healthcare Triangle

Hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC bought a new stake in Healthcare Triangle during the third quarter valued at about $26,000. XTX Topco Ltd bought a new stake in Healthcare Triangle during the second quarter valued at about $69,000. Finally, Jane Street Group LLC bought a new stake in Healthcare Triangle during the second quarter valued at about $33,000. Institutional investors own 0.33% of the company’s stock.

Healthcare Triangle announced that its board has initiated a stock buyback plan on Wednesday, March 11th that authorizes the company to buyback $2,000.00 billion in shares. This buyback authorization authorizes the company to buy up to 100,000,000% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Healthcare Triangle Company Profile

Healthcare Triangle, Inc (NASDAQ: HCTI) is a specialized digital transformation and cloud consulting firm focused on the healthcare industry. The company delivers a range of professional and managed services that help healthcare organizations modernize their IT infrastructure, optimize data workflows and achieve regulatory compliance.

Its core offerings include cloud architecture design and implementation, enterprise data platform development, application modernization and managed IT operations.