icad (NASDAQ:ICAD) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

icad inc. (NASDAQ:ICAD - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.85 and traded as high as $3.79. icad shares last traded at $3.77, with a volume of 189,085 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. BTIG Research cut shares of icad from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 16th. Wall Street Zen began coverage on shares of icad in a research note on Tuesday, May 20th. They set a "sell" rating for the company. Craig Hallum downgraded icad from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, Laidlaw restated a "hold" rating on shares of icad in a research report on Thursday, April 17th.

icad Price Performance

The company has a market cap of $103.42 million, a PE ratio of -19.82 and a beta of 1.37. The company has a 50-day moving average price of $3.75 and a two-hundred day moving average price of $2.87.

icad (NASDAQ:ICAD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.04. icad had a negative return on equity of 15.03% and a negative net margin of 26.63%. The firm had revenue of $4.87 million during the quarter, compared to analyst estimates of $4.54 million.

Hedge Funds Weigh In On icad

A number of large investors have recently bought and sold shares of ICAD. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of icad in the first quarter valued at approximately $40,000. Goldman Sachs Group Inc. acquired a new position in icad in the first quarter worth approximately $44,000. PKS Advisory Services LLC acquired a new position in icad in the fourth quarter worth approximately $53,000. Cubist Systematic Strategies LLC acquired a new position in icad in the first quarter worth approximately $71,000. Finally, Wells Fargo & Company MN grew its position in icad by 51.3% in the fourth quarter. Wells Fargo & Company MN now owns 39,542 shares of the technology company's stock worth $72,000 after buying an additional 13,402 shares during the last quarter. Institutional investors own 24.61% of the company's stock.

icad Company Profile

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.