Healthcare Triangle, Inc. (NASDAQ:HCTI) Short Interest Up 218.9% in August

Healthcare Triangle, Inc. (NASDAQ:HCTI) saw a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 528,837 shares, a growth of 218.9% from the July 30th total of 165,824 shares. Based on an average trading volume of 4,899,226 shares, the short-interest ratio is presently 0.1 days. Approximately 3.5% of the shares of the stock are short sold.

Healthcare Triangle Trading Down 3.1%

NASDAQ HCTI traded down $0.03 on Thursday, reaching $0.84. The company had a trading volume of 149,179 shares, compared to its average volume of 714,335. The stock’s 50 day moving average is $1.56 and its 200-day moving average is $2.68. The stock has a market cap of $12.59 million, a price-to-earnings ratio of -0.03 and a beta of 1.11. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. Healthcare Triangle has a 52 week low of $0.83 and a 52 week high of $223.20.

Healthcare Triangle (NASDAQ:HCTI) last issued its earnings results on Thursday, August 13th. The company reported ($1.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.43) by $1.87. The firm had revenue of $9.19 million for the quarter, compared to analysts’ expectations of $10.35 million. Healthcare Triangle had a negative return on equity of 125.45% and a negative net margin of 66.85%. Equities analysts predict that Healthcare Triangle will post -10.23 earnings per share for the current year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a report on Friday, July 17th. Wall Street Zen raised Healthcare Triangle from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Healthcare Triangle has an average rating of “Sell”.

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.