CareCloud (NASDAQ:CCLD) Stock Crosses Above 50-Day Moving Average – What’s Next?

CareCloud, Inc. (NASDAQ:CCLD) shares passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $2.02 and traded as high as $2.35. CareCloud shares last traded at $2.16, with a volume of 3,412,294 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CCLD shares. Wall Street Zen raised CareCloud from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Roth Capital dropped coverage on CareCloud in a research report on Tuesday, September 15th. They issued a “neutral” rating for the company. Prior estimates, ratings, and price targets should no longer be relied upon. Finally, Weiss Ratings upgraded CareCloud from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

CareCloud Stock Performance

The company has a market cap of $97.73 million, a PE ratio of 6.39 and a beta of 1.57. The stock’s 50 day simple moving average is $2.01 and its two-hundred day simple moving average is $2.46. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 2.20.

CareCloud (NASDAQ:CCLD) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. CareCloud had a return on equity of 32.32% and a net margin of 7.36%. The business had revenue of $33.73 million during the quarter, compared to the consensus estimate of $33.50 million. As a group, research analysts anticipate that CareCloud, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of CareCloud

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in CareCloud by 5.9% in the first quarter. Renaissance Technologies LLC now owns 472,300 shares of the company’s stock valued at $1,724,000 after buying an additional 26,270 shares during the period. Dimensional Fund Advisors LP lifted its position in CareCloud by 49.7% during the first quarter. Dimensional Fund Advisors LP now owns 377,567 shares of the company’s stock valued at $1,377,000 after buying an additional 125,435 shares in the last quarter. Globeflex Capital L P purchased a new stake in CareCloud during the second quarter worth approximately $711,000. Arrowstreet Capital Limited Partnership purchased a new stake in CareCloud during the first quarter worth approximately $920,000. Finally, BlackRock Inc. acquired a new stake in shares of CareCloud in the second quarter worth $486,000. Hedge funds and other institutional investors own 10.16% of the company’s stock.

About CareCloud

CareCloud, Inc (NASDAQ: CCLD) provides cloud-based health care information technology and revenue cycle management services to medical practices, hospitals and other health care organizations. The company’s solutions are designed to help providers manage administrative, clinical and financial operations through integrated software and technology-enabled services.

Its offerings include electronic health records, practice management, medical billing and revenue cycle management, patient engagement tools, telehealth capabilities and related health care technology services.