CareCloud (NASDAQ:CCLD) Rating Increased to Buy at Wall Street Zen

CareCloud (NASDAQ:CCLD - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

Separately, Roth Capital reaffirmed a "neutral" rating on shares of CareCloud in a report on Tuesday, May 6th.

CareCloud Price Performance

Shares of NASDAQ CCLD opened at $2.38 on Friday. The company has a market cap of $100.72 million, a P/E ratio of -10.82 and a beta of 2.06. The firm has a 50-day simple moving average of $2.20 and a two-hundred day simple moving average of $2.45. 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, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). The business had revenue of $27.60 million during the quarter, compared to the consensus estimate of $25.94 million. CareCloud had a net margin of 8.92% and a return on equity of 24.08%. As a group, equities research analysts expect that CareCloud will post 0.58 EPS for the current year.

Insiders Place Their Bets

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 in the company, valued at approximately $130,292.50. This represents a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew 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 purchasing an additional 3,641 shares during the period. HighTower Advisors LLC acquired a new stake in shares of CareCloud during the 1st quarter valued at approximately $28,000. Two Sigma Advisers LP purchased a new stake in shares of CareCloud during the 4th quarter worth approximately $81,000. XTX Topco Ltd acquired a new stake in shares of CareCloud in the 1st quarter worth approximately $35,000. Finally, Kingsview Wealth Management LLC purchased a new position in CareCloud in the 1st quarter valued at approximately $36,000. 10.16% of the stock is 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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