Healthcare Triangle (NASDAQ:HCTI) Announces Quarterly Earnings Results, Beats Expectations By $1.87 EPS

Healthcare Triangle (NASDAQ:HCTI) issued its quarterly earnings results on Thursday. The company reported ($1.56) EPS for the quarter, beating the consensus estimate of ($3.43) by $1.87, Zacks reports. The firm had revenue of $9.19 million during the quarter, compared to analysts’ expectations of $10.35 million. Healthcare Triangle had a negative return on equity of 165.76% and a negative net margin of 66.84%.

Healthcare Triangle Stock Performance

Healthcare Triangle stock traded down $0.52 during mid-day trading on Friday, hitting $1.21. 1,687,074 shares of the company’s stock traded hands, compared to its average volume of 2,479,619. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $3.60. Healthcare Triangle has a fifty-two week low of $1.00 and a fifty-two week high of $244.80. The stock has a market cap of $2.46 million, a price-to-earnings ratio of -0.02 and a beta of 1.11.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen raised Healthcare Triangle from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC bought a new position in shares of Healthcare Triangle during the third quarter worth approximately $26,000. Jane Street Group LLC acquired a new stake in Healthcare Triangle during the second quarter worth approximately $33,000. Finally, XTX Topco Ltd bought a new stake in shares of Healthcare Triangle during the 2nd quarter valued at $69,000. Institutional investors and hedge funds own 0.33% of the company’s stock.

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.