Healthcare Triangle (NASDAQ:HCTI) Stock to Reverse Split on Monday, October 26th

Healthcare Triangle, Inc. (NASDAQ:HCTI) shares are set to reverse split on the morning of Monday, October 26th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, October 25th.

Healthcare Triangle Trading Down 8.8%

Shares of Healthcare Triangle stock traded down $0.04 during trading on Thursday, hitting $0.38. 271,279 shares of the stock were exchanged, compared to its average volume of 1,781,233. The stock’s fifty day moving average is $0.72 and its 200 day moving average is $1.58. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. Healthcare Triangle has a 12 month low of $0.36 and a 12 month high of $188.40.

Healthcare Triangle (NASDAQ:HCTI) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.43) by $1.87. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $10.35 million. Healthcare Triangle had a negative net margin of 66.85% and a negative return on equity of 125.45%. On average, research analysts forecast that Healthcare Triangle will post -10.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HCTI has been the topic of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Healthcare Triangle in a research note on Thursday, October 15th. Wall Street Zen raised Healthcare Triangle to a “hold” rating in a report on Saturday, October 10th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has an average rating of “Sell”.

About Healthcare Triangle

Healthcare Triangle, Inc (NASDAQ:HCTI) is a healthcare information technology company that helps healthcare providers and life sciences organizations modernize their technology infrastructure and use data more effectively. Its services support digital transformation, cloud adoption, data management, analytics, and the integration of clinical and administrative systems.

The company provides cloud and managed services, data and analytics solutions, artificial intelligence capabilities, cybersecurity support, and technology consulting.