Healthcare Triangle, Inc. (NASDAQ:HCTI) Shares Shorted: Short Interest Down 92.6% in October

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the target of a significant decline in short interest in October. As of October 30th, there was short interest totaling 18,750 shares, a decline of 92.6% from the October 15th total of 252,895 shares. Based on an average daily volume of 20,047 shares, the short-interest ratio is presently 0.9 days. Approximately 2.1% of the shares of the company are sold short.

Healthcare Triangle Stock Performance

Shares of NASDAQ HCTI traded down $0.01 during trading on Tuesday, reaching $4.21. The stock had a trading volume of 18,480 shares, compared to its average volume of 57,054. The stock has a market cap of $3.75 million, a PE ratio of -0.13 and a beta of 1.18. Healthcare Triangle has a one year low of $3.51 and a one year high of $3,252.00. The firm’s 50 day moving average price is $11.17 and its two-hundred day moving average price is $57.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 0.60.

Healthcare Triangle (NASDAQ:HCTI) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($31.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($68.60) by $37.40. Healthcare Triangle had a negative return on equity of 125.45% and a negative net margin of 66.85%. The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $10.35 million. On average, research analysts forecast that Healthcare Triangle will post -204.60 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HCTI shares. Wall Street Zen upgraded Healthcare Triangle to a “hold” rating in a research note on Saturday, October 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a research note on Thursday, October 15th. One analyst has rated the stock with a Sell rating. According to MarketBeat, Healthcare Triangle currently has a consensus rating of “Sell”.

About Healthcare Triangle

Healthcare Triangle, Inc. (NASDAQ:HCTI) provides information technology and digital transformation services for the healthcare and life sciences industries. The company helps organizations modernize their technology environments, manage data, and support secure, compliant operations. Its offerings include cloud services, data and analytics solutions, interoperability and application modernization, cybersecurity, managed services, and professional consulting. Healthcare Triangle also develops technology solutions intended to support electronic health record environments, clinical and business workflows, and the use of artificial intelligence and other advanced analytics in healthcare.