Short Interest in CareCloud, Inc. (NASDAQ:CCLD) Decreases By 71.8%

CareCloud, Inc. (NASDAQ:CCLD - Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 391,800 shares, a decrease of 71.8% from the March 15th total of 1,390,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 835,200 shares, the days-to-cover ratio is currently 0.5 days.

CareCloud Trading Up 2.9 %

CCLD stock traded up $0.04 during mid-day trading on Friday, reaching $1.42. 132,105 shares of the stock traded hands, compared to its average volume of 747,984. The stock's fifty day moving average is $2.15 and its 200-day moving average is $2.80. The company has a market cap of $60.10 million, a P/E ratio of -0.44 and a beta of 2.00. CareCloud has a 52-week low of $1.01 and a 52-week high of $4.84.

Analysts Set New Price Targets

CCLD has been the topic of a number of research reports. Roth Capital set a $1.50 target price on shares of CareCloud in a report on Thursday, March 13th. Roth Mkm reiterated a "neutral" rating and set a $1.50 price objective (down previously from $3.50) on shares of CareCloud in a research report on Friday, March 14th.

Hedge Funds Weigh In On CareCloud

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of CareCloud by 31.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company's stock valued at $55,000 after purchasing an additional 3,641 shares in the last quarter. Renaissance Technologies LLC lifted its position in CareCloud by 7.0% in the 4th quarter. Renaissance Technologies LLC now owns 124,100 shares of the company's stock worth $454,000 after buying an additional 8,100 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of CareCloud during the 3rd quarter valued at $42,000. Empowered Funds LLC grew its holdings in shares of CareCloud by 51.2% during the 4th quarter. Empowered Funds LLC now owns 61,240 shares of the company's stock valued at $224,000 after acquiring an additional 20,750 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new position in shares of CareCloud in the fourth quarter worth $81,000. Institutional investors and hedge funds own 10.16% of the company's stock.

CareCloud Company Profile

CareCloud, Inc, a healthcare information technology (IT) company, provides a suite of cloud-based solutions and related business services to healthcare providers and hospitals primarily in the United States. It operates in two segments, Healthcare IT and Medical Practice Management. The company's portfolio of proprietary software and business services includes technology-enabled business solutions; cloud-based software; digital health services; healthcare IT professional services and staffing; and medical practice management services.