Short Interest in Healthcare Triangle, Inc. (NASDAQ:HCTI) Declines By 44.0%

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totaling 51,512 shares, a decrease of 44.0% from the May 31st total of 91,956 shares. Based on an average daily volume of 41,716 shares, the short-interest ratio is presently 1.2 days. Currently, 2.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Healthcare Triangle

Several institutional investors have recently bought and sold shares of HCTI. Private Advisor Group LLC acquired a new stake in Healthcare Triangle in the 3rd quarter worth about $26,000. Jane Street Group LLC acquired a new position in shares of Healthcare Triangle during the second quarter valued at approximately $33,000. Finally, XTX Topco Ltd purchased a new position in shares of Healthcare Triangle in the second quarter valued at approximately $69,000. 0.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HCTI has been the topic of a number of analyst reports. Wall Street Zen raised shares of Healthcare Triangle from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Healthcare Triangle in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Healthcare Triangle Price Performance

Healthcare Triangle stock traded up $0.13 during trading on Wednesday, reaching $1.94. The company had a trading volume of 95,147 shares, compared to its average volume of 493,341. The firm has a market capitalization of $3.94 million, a PE ratio of -0.03 and a beta of 1.04. The firm’s 50-day simple moving average is $2.27 and its 200 day simple moving average is $16.70. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.90 and a current ratio of 0.90. Healthcare Triangle has a 1-year low of $1.73 and a 1-year high of $1,299.78.

Healthcare Triangle (NASDAQ:HCTI) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($6.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($6.84) by $0.03. Healthcare Triangle had a negative net margin of 70.43% and a negative return on equity of 166.88%. The company had revenue of $9.86 million during the quarter, compared to analysts’ expectations of $9.86 million. As a group, equities research analysts anticipate that Healthcare Triangle will post -16.13 earnings per share for the current fiscal year.

Healthcare Triangle declared that its board has authorized a stock repurchase program on Wednesday, March 11th that authorizes the company to buyback $2,000.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 100,000,000% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

About Healthcare Triangle

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.