Short Interest in Healthcare Triangle, Inc. (NASDAQ:HCTI) Declines By 85.6%

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 102,611 shares, a decrease of 85.6% from the February 26th total of 714,560 shares. Currently, 14.0% of the company’s shares are short sold. Based on an average trading volume of 261,466 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 261,466 shares, the days-to-cover ratio is currently 0.4 days. Currently, 14.0% of the company’s shares are short sold.

Hedge Funds Weigh In On Healthcare Triangle

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in Healthcare Triangle in the second quarter valued at approximately $69,000. Jane Street Group LLC acquired a new position in shares of Healthcare Triangle during the 2nd quarter worth $33,000. Finally, Private Advisor Group LLC bought a new position in shares of Healthcare Triangle during the 3rd quarter valued at $26,000. 0.33% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Triangle Trading Down 10.3%

NASDAQ HCTI traded down $0.30 during trading on Tuesday, reaching $2.62. 74,090 shares of the company’s stock were exchanged, compared to its average volume of 1,199,678. Healthcare Triangle has a fifty-two week low of $2.46 and a fifty-two week high of $7,470.00. The company’s fifty day simple moving average is $10.04 and its 200-day simple moving average is $87.96.

Healthcare Triangle declared that its board has authorized a stock buyback plan on Wednesday, March 11th that authorizes the company to repurchase $2,000.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 100,000,000% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Healthcare Triangle Company Profile

Healthcare Triangle, Inc (NASDAQ: HCTI) is a specialized digital transformation and cloud consulting firm focused on the healthcare industry. The company delivers a range of professional and managed services that help healthcare organizations modernize their IT infrastructure, optimize data workflows and achieve regulatory compliance.

Its core offerings include cloud architecture design and implementation, enterprise data platform development, application modernization and managed IT operations.