CareCloud, Inc. (NASDAQ:CCLD) Short Interest Update

CareCloud, Inc. (NASDAQ:CCLD - Get Free Report) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totalling 422,700 shares, a drop of 24.0% from the April 30th total of 555,900 shares. Approximately 1.7% of the company's shares are sold short. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On CareCloud

Several hedge funds have recently bought and sold shares of CCLD. Acadian Asset Management LLC lifted its position in CareCloud by 481.9% during the first quarter. Acadian Asset Management LLC now owns 203,053 shares of the company's stock worth $280,000 after buying an additional 168,156 shares during the period. HighTower Advisors LLC acquired a new position in CareCloud during the 1st quarter worth approximately $28,000. XTX Topco Ltd acquired a new position in shares of CareCloud during the first quarter worth $35,000. Kingsview Wealth Management LLC purchased a new stake in CareCloud during the 1st quarter worth approximately $36,000. Finally, Axxcess Wealth Management LLC acquired a new position in CareCloud during the 1st quarter worth $41,000. Hedge funds and other institutional investors own 10.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CCLD shares. Roth Mkm restated a "neutral" rating and set a $1.50 price objective (down previously from $3.50) on shares of CareCloud in a report on Friday, March 14th. Roth Capital restated a "neutral" rating on shares of CareCloud in a research report on Tuesday, May 6th.

CareCloud Trading Up 7.4%

NASDAQ:CCLD traded up $0.15 during trading hours on Tuesday, hitting $2.17. The company had a trading volume of 456,377 shares, compared to its average volume of 377,813. The company has a 50-day moving average of $1.69 and a 200 day moving average of $2.68. CareCloud has a 1 year low of $1.14 and a 1 year high of $4.84. The company has a market cap of $91.84 million, a P/E ratio of -0.68 and a beta of 2.05.

CareCloud (NASDAQ:CCLD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). The firm had revenue of $27.60 million for the quarter, compared to analysts' expectations of $25.94 million. CareCloud had a negative return on equity of 87.98% and a negative net margin of 35.25%. On average, analysts forecast that CareCloud will post 0.58 earnings per share for the current year.

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.