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

Key Points

• In August, CareCloud's short interest dropped by 24.5% to 807,800 shares, with approximately 2.3% of the company's shares sold short and a days-to-cover ratio of 1.9 days.
• Wall Street analysts have upgraded CareCloud's rating from "hold" to "buy," with analysts predicting an average target price of $2.50 for the stock.
• CareCloud reported earnings of $0.07 per share for the last quarter, slightly below the consensus estimate, while forecasting a future EPS range of 0.100-0.130 for FY 2025.

CareCloud, Inc. (NASDAQ:CCLD - Get Free Report) saw a large decline in short interest in August. As of August 15th, there was short interest totaling 807,800 shares, adeclineof24.5% from the July 31st total of 1,070,000 shares. Approximately2.3% of the company's shares are sold short. Based on an average trading volume of 421,300 shares, the days-to-cover ratio is presently 1.9 days. Based on an average trading volume of 421,300 shares, the days-to-cover ratio is presently 1.9 days. Approximately2.3% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of CareCloud from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $2.50.

CareCloud Price Performance

NASDAQ:CCLD opened at $3.49 on Monday. The firm has a market cap of $147.70 million, a price-to-earnings ratio of -87.25 and a beta of 2.13. The firm's fifty day moving average price is $2.70 and its 200 day moving average price is $2.22. CareCloud has a 1-year low of $1.14 and a 1-year high of $4.84.

CareCloud (NASDAQ:CCLD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). CareCloud had a return on equity of 23.51% and a net margin of 10.08%.The firm had revenue of $27.38 million for the quarter, compared to analysts' expectations of $27.19 million. CareCloud has set its FY 2025 guidance at 0.100-0.130 EPS. As a group, analysts expect that CareCloud will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at CareCloud

In related news, Director John N. Daly sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $2.11, for a total transaction of $31,650.00. Following the sale, the director directly owned 61,750 shares of the company's stock, valued at $130,292.50. This represents a 19.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 14.70% of the company's stock.

Institutional Investors Weigh In On CareCloud

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of CareCloud by 31.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company's stock worth $55,000 after acquiring an additional 3,641 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of CareCloud in the fourth quarter valued at approximately $81,000. Johnson Investment Counsel Inc. purchased a new position in shares of CareCloud during the 1st quarter worth approximately $70,000. Chapin Davis Inc. raised its position in shares of CareCloud by 284.9% during the 1st quarter. Chapin Davis Inc. now owns 119,269 shares of the company's stock worth $166,000 after purchasing an additional 88,285 shares during the last quarter. Finally, Crescent Grove Advisors LLC acquired a new position in shares of CareCloud during the 1st quarter worth approximately $250,000. 10.16% of the stock is currently owned by hedge funds and other institutional investors.

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.

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