Short Interest in Healthcare Triangle, Inc. (NASDAQ:HCTI) Rises By 140.4%

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 379,248 shares, a growth of 140.4% from the April 30th total of 157,727 shares. Based on an average daily trading volume, of 412,027 shares, the short-interest ratio is presently 0.9 days. Currently, 18.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Healthcare Triangle currently has an average rating of “Sell”.

Healthcare Triangle Price Performance

Shares of HCTI traded down $0.03 during mid-day trading on Friday, reaching $2.58. 61,347 shares of the stock traded hands, compared to its average volume of 270,856. The firm has a fifty day moving average price of $2.44 and a 200 day moving average price of $37.61. The company has a market cap of $5.23 million, a price-to-earnings ratio of -0.04 and a beta of 0.99. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.02. Healthcare Triangle has a 1 year low of $2.06 and a 1 year high of $1,299.78.

Healthcare Triangle announced that its Board of Directors has initiated a share buyback plan on Wednesday, March 11th that allows the company to buyback $2,000.00 billion in shares. This buyback authorization allows the company to reacquire up to 100,000,000% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Healthcare Triangle

A number of institutional investors and hedge funds have recently bought and sold shares of HCTI. Private Advisor Group LLC bought a new stake in Healthcare Triangle during the third quarter valued at approximately $26,000. Jane Street Group LLC bought a new position in shares of Healthcare Triangle in the 2nd quarter worth $33,000. Finally, XTX Topco Ltd purchased a new stake in shares of Healthcare Triangle during the 2nd quarter valued at $69,000. 0.33% of the stock is owned by hedge funds and other institutional investors.

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.