CareCloud (NASDAQ:CCLD) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of CareCloud (NASDAQ:CCLD) from a buy rating to a hold rating in a research report report published on Saturday morning.

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of CareCloud in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, CareCloud has a consensus rating of “Hold” and an average price target of $3.25.

CareCloud Trading Down 1.4%

CareCloud stock opened at $2.11 on Friday. The business’s fifty day simple moving average is $3.04 and its two-hundred day simple moving average is $2.95. CareCloud has a 12 month low of $1.96 and a 12 month high of $4.01. The company has a market capitalization of $89.65 million, a price-to-earnings ratio of 19.18 and a beta of 1.60.

CareCloud (NASDAQ:CCLD) last released its earnings results on Thursday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). CareCloud had a return on equity of 24.05% and a net margin of 7.87%. On average, equities research analysts predict that CareCloud will post 0.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CCLD. Baader Bank Aktiengesellschaft bought a new position in shares of CareCloud during the third quarter valued at $39,000. HRT Financial LP bought a new position in shares of CareCloud during the fourth quarter valued at $43,000. Centiva Capital LP bought a new position in shares of CareCloud during the third quarter valued at $47,000. Militia Capital Management LLC bought a new position in shares of CareCloud during the first quarter valued at $54,000. Finally, American Century Companies Inc. bought a new position in shares of CareCloud during the second quarter valued at $78,000. 10.16% of the stock is owned by institutional investors.

About CareCloud

CareCloud, Inc is a healthcare technology company that provides cloud-based practice management, electronic health record (EHR) and revenue cycle management (RCM) solutions to medical practices and health systems. Its flagship offering, the CareCloud Central platform, combines clinical, financial and administrative workflows into a single, unified system. The platform includes modules for scheduling, billing, coding, patient engagement and telehealth, enabling practices to streamline front- and back-office operations and improve overall practice performance.

Founded in 2009 and headquartered in Miami Beach, Florida, CareCloud serves small to mid-size physician groups and specialty clinics across the United States.