CareCloud’s (CCLD) “Buy” Rating Reaffirmed at Benchmark

Benchmark restated their buy rating on shares of CareCloud (NASDAQ:CCLD) in a report issued on Monday morning, Benzinga reports. They currently have a $3.50 price objective on the stock.

Separately, Maxim Group raised CareCloud from a hold rating to a buy rating and set a $3.00 target price for the company in a report on Friday, March 22nd.

CareCloud Price Performance

Shares of CCLD stock opened at $1.16 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.98 and a current ratio of 1.00. CareCloud has a fifty-two week low of $0.68 and a fifty-two week high of $3.81. The firm has a market capitalization of $18.70 million, a price-to-earnings ratio of -0.29 and a beta of 1.12. The stock’s 50-day simple moving average is $1.31 and its 200-day simple moving average is $1.22.

Institutional Investors Weigh In On CareCloud

Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN acquired a new stake in shares of CareCloud during the second quarter worth about $39,000. Chapin Davis Inc. acquired a new position in CareCloud in the second quarter valued at approximately $46,000. State Street Corp acquired a new position in CareCloud in the second quarter valued at approximately $78,000. Renaissance Technologies LLC acquired a new position in CareCloud in the second quarter valued at approximately $140,000. Finally, Perritt Capital Management Inc. acquired a new position in CareCloud in the second quarter valued at approximately $145,000. Institutional investors and hedge funds own 10.16% of the company’s stock.

CareCloud Company Profile

CareCloud, Inc, a healthcare information technology (IT) company, provides a suite of cloud-based solutions and related business services to healthcare providers and hospitals primarily in the United States. It operates in two segments, Healthcare IT and Medical Practice Management. The company's portfolio of proprietary software and business services includes technology-enabled business solutions; cloud-based software; digital health services; healthcare IT professional services and staffing; and medical practice management services.