Medical Transcription Billing, Corp. (NASDAQ:MTBC)’s share price shot up 18% during mid-day trading on Tuesday . The stock traded as high as $3.60 and last traded at $3.08. 2,851,300 shares changed hands during trading, an increase of 137% from the average session volume of 1,201,725 shares. The stock had previously closed at $2.61.

Several brokerages recently issued reports on MTBC. Zacks Investment Research cut Medical Transcription Billing from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. ValuEngine upgraded Medical Transcription Billing from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Chardan Capital raised their price objective on Medical Transcription Billing from $2.25 to $2.75 and gave the stock a “buy” rating in a research note on Tuesday, November 14th.

The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.01.

In other Medical Transcription Billing news, President Stephen Andrew Snyder sold 50,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $3.18, for a total value of $159,000.00. Following the sale, the president now directly owns 106,000 shares of the company’s stock, valued at $337,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 53.70% of the company’s stock.

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About Medical Transcription Billing

Medical Transcription Billing, Corp. is a healthcare information technology company that provides an integrated suite of Web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings. The Company’s offering, PracticePro, allows healthcare practices with the core software and business services on Software-as-a-Service (SaaS) platform.

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