Healthcare Triangle, Inc. (NASDAQ:HCTI) Short Interest Update

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totaling 179,026 shares, a drop of 31.0% from the March 31st total of 259,294 shares. Approximately 24.4% of the shares of the stock are short sold. Based on an average daily volume of 535,974 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Healthcare Triangle

Several large investors have recently modified their holdings of HCTI. XTX Topco Ltd bought a new stake in shares of Healthcare Triangle during the 2nd quarter worth $69,000. Jane Street Group LLC purchased a new stake in shares of Healthcare Triangle in the second quarter valued at $33,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Healthcare Triangle in the third quarter worth $26,000. 0.33% of the stock is owned by institutional investors.

Healthcare Triangle Price Performance

Shares of HCTI traded down $0.02 during trading hours on Tuesday, hitting $2.22. 55,139 shares of the company were exchanged, compared to its average volume of 632,762. The company has a market capitalization of $4.36 million, a PE ratio of 0.00 and a beta of 1.15. The firm has a fifty day simple moving average of $3.25 and a 200-day simple moving average of $61.82. Healthcare Triangle has a one year low of $2.10 and a one year high of $7,470.00.

Healthcare Triangle announced that its board has authorized a stock repurchase program on Wednesday, March 11th that authorizes the company to buyback $2,000.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 100,000,000% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

About Healthcare Triangle

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.