CareCloud (NASDAQ:CCLD) Upgraded by Wall Street Zen to Buy Rating

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

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

CareCloud Trading Up 3.9%

Shares of NASDAQ CCLD traded up $0.09 during mid-day trading on Friday, reaching $2.40. The company had a trading volume of 191,525 shares, compared to its average volume of 403,128. The business's 50-day moving average is $2.21 and its 200-day moving average is $2.43. The stock has a market cap of $101.57 million, a price-to-earnings 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 quarterly 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 company had revenue of $27.60 million during the quarter, compared to the consensus estimate of $25.94 million. CareCloud had a return on equity of 24.08% and a net margin of 8.92%. As a group, equities research analysts forecast that CareCloud will post 0.58 earnings per share for the current year.

Insider Transactions at CareCloud

In other CareCloud news, Director John N. Daly sold 15,000 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $2.11, for a total transaction of $31,650.00. Following the transaction, the director directly owned 61,750 shares in the company, valued at $130,292.50. This represents a 19.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC purchased a new stake in shares of CareCloud during the first quarter valued at about $28,000. XTX Topco Ltd purchased a new stake in shares of CareCloud during the first quarter valued at about $35,000. Kingsview Wealth Management LLC purchased a new stake in shares of CareCloud during the first quarter valued at about $36,000. Axxcess Wealth Management LLC purchased a new stake in shares of CareCloud during the first quarter valued at about $41,000. Finally, Colonial River Investments LLC purchased a new stake in shares of CareCloud during the first quarter valued at about $41,000. 10.16% of the stock is currently owned by 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.