CareCloud, Inc. (NASDAQ:CCLD) Short Interest Update

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 557,523 shares, a growth of 22.2% from the December 15th total of 456,054 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 251,370 shares, the short-interest ratio is currently 2.2 days. Based on an average daily volume of 251,370 shares, the short-interest ratio is currently 2.2 days. Approximately 1.5% of the shares of the stock are sold short.

CareCloud Stock Up 1.8%

Shares of CCLD opened at $2.90 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.26 and a quick ratio of 1.24. The stock has a market capitalization of $122.96 million, a price-to-earnings ratio of 72.52 and a beta of 1.99. CareCloud has a 1 year low of $1.14 and a 1 year high of $4.75. The business’s 50 day simple moving average is $3.07 and its 200-day simple moving average is $3.03.

CareCloud (NASDAQ:CCLD) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The company had revenue of $31.07 million for the quarter, compared to analysts’ expectations of $29.01 million. CareCloud had a net margin of 9.80% and a return on equity of 24.31%. As a group, equities analysts expect that CareCloud will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at CareCloud

In related news, Director John N. Daly sold 15,000 shares of CareCloud stock in a transaction on Monday, November 10th. The shares were sold at an average price of $3.41, for a total transaction of $51,150.00. Following the transaction, the director owned 51,750 shares in the company, valued at approximately $176,467.50. The trade was a 22.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Prospera Financial Services Inc lifted its stake in shares of CareCloud by 31.8% in the 2nd quarter. Prospera Financial Services Inc now owns 75,966 shares of the company’s stock valued at $179,000 after purchasing an additional 18,339 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of CareCloud by 61.8% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 130,900 shares of the company’s stock valued at $309,000 after purchasing an additional 50,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in CareCloud during the 2nd quarter valued at $50,000. Centiva Capital LP bought a new stake in CareCloud in the third quarter worth $47,000. Finally, Squarepoint Ops LLC purchased a new position in CareCloud during the third quarter worth $139,000. Institutional investors own 10.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CCLD shares. ThinkEquity began coverage on CareCloud in a research report on Monday, November 24th. They issued a “buy” rating on the stock. Wall Street Zen raised CareCloud from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. Roth Capital reaffirmed a “neutral” rating and set a $3.25 price objective on shares of CareCloud in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of CareCloud in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, CareCloud has an average rating of “Hold” and a consensus target price of $2.38.

CareCloud Company Profile

CareCloud, Inc is a healthcare technology company that provides cloud-based practice management, electronic health record (EHR) and revenue cycle management (RCM) solutions to medical practices and health systems. Its flagship offering, the CareCloud Central platform, combines clinical, financial and administrative workflows into a single, unified system. The platform includes modules for scheduling, billing, coding, patient engagement and telehealth, enabling practices to streamline front- and back-office operations and improve overall practice performance.

Founded in 2009 and headquartered in Miami Beach, Florida, CareCloud serves small to mid-size physician groups and specialty clinics across the United States.