CareCloud (NASDAQ:CCLD) Lowered to Hold Rating by Wall Street Zen

CareCloud (NASDAQ:CCLD - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other research analysts also recently issued reports on CCLD. Roth Mkm reiterated a "neutral" rating and issued a $1.50 price target (down from $3.50) on shares of CareCloud in a report on Friday, March 14th. Roth Capital reiterated a "neutral" rating on shares of CareCloud in a research note on Tuesday, May 6th.

CareCloud Stock Down 2.0%

CCLD opened at $2.40 on Friday. The stock's fifty day moving average is $2.14 and its two-hundred day moving average is $2.51. The company has a market capitalization of $101.57 million, a P/E ratio of -10.91 and a beta of 2.06. CareCloud has a 52 week low of $1.14 and a 52 week high of $4.84.

CareCloud (NASDAQ:CCLD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). The business had revenue of $27.60 million for the quarter, compared to analysts' expectations of $25.94 million. CareCloud had a net margin of 8.92% and a return on equity of 24.08%. Equities analysts anticipate that CareCloud will post 0.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John N. Daly sold 15,000 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $2.11, for a total transaction of $31,650.00. Following the sale, the director owned 61,750 shares in the company, valued at approximately $130,292.50. The trade was a 19.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.70% of the stock is currently owned by company insiders.

Institutional Trading of CareCloud

Several large investors have recently bought and sold shares of the stock. Johnson Investment Counsel Inc. purchased a new stake in shares of CareCloud during the first quarter valued at $70,000. Renaissance Technologies LLC boosted its position in CareCloud by 7.0% in the fourth quarter. Renaissance Technologies LLC now owns 124,100 shares of the company's stock valued at $454,000 after buying an additional 8,100 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in CareCloud in the fourth quarter valued at approximately $81,000. Heron Bay Capital Management boosted its position in CareCloud by 48.5% in the fourth quarter. Heron Bay Capital Management now owns 101,119 shares of the company's stock valued at $370,000 after buying an additional 33,033 shares during the last quarter. Finally, Crescent Grove Advisors LLC purchased a new stake in CareCloud in the first quarter valued at approximately $250,000. Hedge funds and other institutional investors 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.

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